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Don’t Miss the KRA Tax Filing Deadline!
KRA Tax Filing Deadline. As the financial year comes to a close, it’s crucial for all Kenyan taxpayers to be aware of the impending deadline for filing their taxes with the Kenya Revenue Authority (KRA). Filing taxes is an essential responsibility that ensures the smooth operation of our nation’s economy. So, mark your calendars and read on to find out everything you need to know about the KRA tax filing deadline.
What is the KRA Tax Filing Deadline?
The KRA tax filing deadline is the last day by which taxpayers must submit their tax returns to the Kenya Revenue Authority. It is a crucial date to remember, as failing to file taxes on time can result in penalties and unnecessary stress.
When is the KRA Tax Filing Deadline?
For the financial year ending on 30th June, the KRA tax filing deadline typically falls on the 30th of June of the subsequent year. However, it is essential to stay updated with any changes or extensions announced by the KRA, as they may occur due to unforeseen circumstances. Kra filing is open from January to June Every year. If you are Employed you will need to ask your Employer for a P9 form. If you have no employment you can still file nil returns.
Why is it Important to File Taxes on Time?
Submitting your tax returns promptly serves a dual purpose: it not only safeguards you from incurring penalties but also ensures your adherence to the law. By adhering to the tax filing deadline, you actively contribute to the economic growth of Kenya. This timely action empowers the government to allocate funds toward crucial services and infrastructure projects that enhance the well-being of the entire nation.
How to File Taxes with KRA?
KRA provides various convenient methods for taxpayers to file their taxes. You can choose to file online through the KRA iTax portal, visit a KRA service center near you or seek assistance from Authorized tax professionals like us, Here at Onlinecybercafe.co.ke we will Ensure we gather all the necessary documents, such as your KRA PIN, P9 form from your employer, and any other supporting documents required for your specific tax category. We will then guide you on how to file your returns at a very pocket-friendly Cyber Fee.
What are the consequences of Missing the Deadline?
Neglecting to file taxes within the stipulated deadline carries severe repercussions. KRA enforces penalties and interest charges on delayed payments, which progressively accumulate and detrimentally affect your financial stability. Furthermore, failure to comply with tax filing obligations can result in grave legal consequences, including prosecution and protracted court battles. This serves as a stark warning against the dire consequences of disregarding your tax responsibilities. The current Penalty for late filing of returns stands at Ksh 2000.
Seek Professional Assistance if Needed
If you find tax filing complex or have specific queries regarding your tax obligations, it is advisable to consult a tax professional like us, Tax experts can provide personalized guidance, ensuring accurate and timely submission of your tax returns while maximizing available deductions and exemptions. We can help you file your returns properly to avoid wrong calculations. If you have changed jobs In the Middle of the Year and have 2 P9 forms you need not worry, we will guide you to file your returns without any hiccup.
In conclusion, embracing our role as responsible citizens involves recognizing the significance of meeting the KRA tax filing deadline. By taking proactive steps and initiating the process early, such as gathering all necessary documents, we can ensure a smooth and timely submission of our tax returns. Remember, fulfilling our tax obligations not only demonstrates compliance with the law but also plays a pivotal role in fostering the growth and development of Kenya. Let’s seize the opportunity to contribute to our nation’s progress. Act now, secure yourself from unnecessary penalties, and stay ahead of your tax responsibilities. Together, we can build a prosperous future for Kenya!
You can also get help from your nearest KRA OFFICE . DEADLINE IS 30TH JUNE 2023