Section 3 of the Kenya Income Tax Act (CAP 470) brings to charge all the income of a person, whether resident or non-resident which accrued in or was derived from Kenya in a year of income.
Overview
Corporate tax relates to income tax obligations on registered entities. The rate of tax depends on a variety of factors including nature of income ,type of the entity.
Newly listed firms are taxed differently depending on the proportion of shares listed, resident and nonresident companies at 30% and 37.5% respectively).
Galaxy Fiscal Solutions in corporate taxation:
Non and late payment of tax installments attracts penalties and interest.
Areas of Expertise
Tax is a complex and dynamic subject that is best left to experts. Failure to comply with tax regulations often results in costly penalties and interests as well as distracting the management from its core business goals.
As a corporate, you will benefit from our expertise is ensuring you comply with all current and future tax obligations, as you focus on your corporate goals such as growth and profitability.
GFS will help your organisation align corporate objectives with existing and future tax obligations. We also help you plan your corporate moves around available tax incentives such as the investment deductions and other capital allowances.
You will find our deep understanding of tax matters invaluable during mergers and acquisitions as we help you assess the tax wellbeing of a target entities. This helps you in arriving at the proper valuation of an entity you will to acquire, considering any hidden tax encumbrances.
We shall guide you through complex equity and debt capital issues and acquisitions, ensuring that you not only comply with applicable tax regulations, but also benefit from the various tax incentives available.
GFS will guide you in the pricing of cross-border transactions with your related or associated enterprises. Our expertise will assist you comply with transfer pricing (TP) rules applicable in all the tax jurisdictions in which you operate. We will further assist you conduct a TP policy study, formulate and document a group organizational TP policy, conduct a TP risks assessment and manage future TP risks.
We also offer cross-border tax advisory.
In recent times, the local and global tax landscape has become increasingly dynamic. The cost of noncompliance with applicable tax regulations continues to skyrocket, both in monetary terms and damage to corporate reputation. It only prudent for an organisation to routinely commission tax health checks.
GFS is uniquely suited to perform these tax health checks in your organisation.
We offer professional support, advice and representation in tax disputes, investigations and KRA in-depth tax audits.
We offer training to your staff on various tax matters applicable to your organisation.
GFS guide you through the online tax registration on the iTax platform. We will also help you update your online tax forms and as your organisation evolves.
You can count on our expertise and outsource the filing of some or all your tax returns to GFS. Depending on the volume of work involved, we can dedicate a resource to you for this service. The service may either be performed at your own premises or remotely as may be convenient to you.
GFS conducts specialized audits after you have received imported goods. The aim of this audit is to check compliance with all customs regulations, through examination and verification of importer’s records and processes. Our PCA offering typically covers tariff classification, valuation, foreign currency implications, country of origin implications and claims for concessionary duty rates.
During importation of your goods, you can benefit from the extensive knowledge of customs and border controls of our team and save storage costs and avoid demurrage charge through an expediated clearance process.
Have any Question?
We are here to help. Call us on +254 (020) 4440333 . Feel free to contact our experts.
- podeny@galaxyfiscal.com
- jochiel@galaxyfiscal.com
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