Embu,
Tuesday, April 9
KNA by Steve Gatheru
The Tax Appeals Tribunal has advised the business community to keep proper business records in case of disputes with the taxman.
The tribunal’s Chairman Eric Nyongesa Wafula also said taxpayers should keep a proper inventory of the documents they hand over to KRA when demanded for tax assessment.
Mr Wafula said proper records were important in the resolution of any disputes and that such records could even include minutes of social committees that task an individual to collect money on behalf of the social groups that could include burial and wedding committees and that KRA could misconstrue to be business income.
He was speaking in Embu during a stakeholder clinic in which the business community were sensitized on the procedures for filing a dispute and what to provide for a speedy resolution of their disputes.
Wafula said the tribunal that will extend the sensitization to Meru on Thursday and Nyeri on Friday was created by the 2010 Constitution to arbitrate between KRA and taxpayers who previously found themselves appealing for tax demand reviews from the same KRA that had overassessed taxes due.
He said after teething problems between 2013 and 2018, the tribunal was now firmly settled to deal with all disputes, ranging from individual’s cases to those by multinationals.
An Embu bunsinessman Stephen Macharia said he was happy to learn about how to raise an objection in case of an overassessment, the procedures for filing an appeal and the importance of retaining a proper inventory of documents to avoid penalties.
A member of the Law Society Of Kenya, Nzekene Magdalene, praised the sensitization initiative which she said will help all parties in tax disputes to be on the same page.
Courtesy; KNA
