The Tax Amnesty programme is being reminded
to Kenyans by the Kenya Revenue Authority (KRA), and they are being urged to
take advantage of it, as it is set to end on June 30, 2024, in three months.
With complete payment of their respective
primary taxes by June 30, 2024, taxpayers may petition for a waiver of
penalties and interest incurred for periods up to December 31, 2022, under the
terms of the Tax Amnesty Programme, which was created by the Finance Act of
2023.
With almost 400,000 beneficiaries to date,
this programme gives noncompliant taxpayers a second opportunity and a means of
re-entering the tax system.
Like forgiving someone after their first
transgression, it is based on the underlying assumption that people would make
an effort to change their behaviour and make a good contribution to society
when they have gained awareness of the consequences of their acts.
They may also present previously hidden
facts, such undeclared income or assets from offshore sources, or unfiled tax
returns for earlier years.
"It is important to note that, the
amnesty extends to those with penalties and interest but without principal tax
due up to December 31, 2022. For these taxpayers, forgiveness is automatic,
eliminating the need for a formal application process," said KRA.
KRA added, "Those with outstanding
principal tax liabilities for the same period can qualify by settling their
debts by 30th June 2024. However, with the program's deadline looming, it is
important for eligible individuals to seize the opportunity and apply for
amnesty before it expires."