How to file KRA nil returns

In Kenya, it is mandatory to file tax returns annually as long as you have acquired your KRA PIN number. That also applies to students and unemployed Kenyans who are required to file nil returns without fail. Want to know how to file KRA nil returns? Read on.What are nil returns?

Before we dig deep into how to file KRA returns, let’s first learn what these nil returns are. Nil income tax returns help the taxman to identify all taxpayers that fall below the taxable income or are unemployed and do not earn any salary such as university students. Why must I file nil returns? Well, failure to file KRA nil returns attracts a hefty penalty fee. In the past, it used to be Ksh 1000, but the taxman reviewed this in 2015 to Ksh 20,000 which become effective in 2017. So imagine having to pay 20,000 annually for something that will take you less than five minutes to complete.

Read the end of the article at https://www.siliconindia.com/news/general/How-to-file-KRA-nil-returns-nid-204712-cid-1.html

Author: worldwidenewscast

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