With less than 30 days to the filing deadline for December 2023 year-ends, here is what you need to know:

Deadline:

• 30th June 2024

Who needs to file:

• Companies & individuals regardless of whether they had any transactions or earned income in 2023

Required documents:

• Corporate Entities:
  1. Audited Financial Statements; and
  2. Tax Computation.
• Individuals:
  1. Tax Deduction Cards (P9) or Statement of Incomes & Expenditures where applicable;
  2. Tax Computation.

Action required:

• Populate return spreadsheet obtained from your respective i-tax account with information from your audited financial statements or tax deduction card; and
• Validate and file the return on i-tax.
• A nil return- This applies only where the person did not have any income during the year

Penalties for late filing:

• Corporate entities: 5% of tax payable or KES 20,000 (whichever is higher); and
• Individuals: 5% of tax payable or KES 2,000 (whichever is higher).

Need help?

Contact our service team for any clarifications or assistance with the tax returns filing.

Jeremiah Mvera – Tax Manager                          Beatrice Kamau – Tax & Outsourcing Partner

T: 254 724 814 751                                                      T: +254 721 281 430

E:JMvera@mgkconsult.co.ke                               E: BKamau@mgkconsult.co.ke