Kenyans in the Diaspora Must Declare Investments They’ve Made Abroad, KRA Says

 ›  ›  ›  ›  ›  ›  ›  › Kenyans in the Diaspora Must Declare Investments They’ve Made Abroad, KRA Says

Africa,Business,Diaspora,Kenya,Kenya Diaspora News,News,U.S Diaspora

Kenyans in the Diaspora Must Declare Investments They’ve Made Abroad, KRA Says

Share this

The Kenya Revenue Authority (KRA) says Kenyans in the diaspora must declare the investments they have made in the host countries when they file their tax returns.

Speaking on Citizen TV’s Citizen Extra program on Monday, Kenya Revenue Authority (KRA) Chief Manager for Domestic Taxes Department Judith Njagi urged Kenyans living and working abroad to ensure they remit their returns ahead of the June 30th deadline to avoid penalties.

“Kenyans in the diaspora must file their returns, they have to declare the investments they have done there,” she said.

“In cases where there is double taxation for those who are in the diaspora, they will be given a refund of the taxes paid there,” Ms Njagi assured.

The law requires any Kenyan who has a Personal Identification Number (PIN), whether based in the country or abroad, to file returns annually, including a nil return.

Failure to file returns before the June 30th deadline attracts a fine of Sh20, 000 under the Tax Procedures Act number 29 of 2015.

Last year, KRA said earning income abroad doesn’t exempt one from declaring it since it may be deemed to be accrued from Kenya.

The agency also noted that assets or property held overseas by Kenyan citizens must be declared, if proceeds derived from the assets or property are intended to be repatriated to Kenya.

“If you are a tax resident in Kenya earning income abroad that is deemed to be accrued or derived from Kenya, then such income should be declared for amnesty if you had not declared it before,” KRA said.

 

Kenyans in the Diaspora Must Declare Investments They’ve Made Abroad, KRA Says Reviewed by on June 28, 2018 .

Kenyans in the Diaspora Must Declare InvestmentsThey’ve Made Abroad, KRA Says The Kenya Revenue Authority (KRA) says Kenyans in the diaspora must declare the investments they have made in the host countries when they file their tax returns. Speaking on Citizen TV’s Citizen Extra program on Monday, Kenya Revenue Authority (KRA) Chief Manager for Domestic

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SAMRACK MEDIA

SAMRACK PRESTIGE SERVICES (S.P.S)

Phone:Tel 781-888-8770

Email: samlibbi@gmail.com,
Email: Samlibbi@yahoo.com

Your Convenience is our Priority!

View Monthly Archives

Subscribe to our Mailing List

Page generated in 1.168 seconds. Stats plugin by www.blog.ca