Here Are The Key Points From CS For Treasury John Mbadi's Draft

The CS for Treasury, John Mbadi, has released the Draft Income Tax Act, which outlines new rules about how income tax will be managed in Kenya.

Here are the key points from the draft:

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—Employers must submit a tax return showing salaries and taxes deducted by the 9th of the following month.
—Employers must deduct tax from employee salaries every month.
—Employers are responsible for calculating the correct amount of tax due each month, considering personal relief.
—Detailed records of salaries, taxes charged, and personal relief must be maintained by employers.
—Employers must submit a tax return showing salaries and taxes deducted by the 9th of the following month.
—Employers must inform employees about their total earnings and the tax deducted at the end of each month.
—If there are disputes about tax deductions, employees can appeal to the Commissioner..
—There are penalties for employers who fail to submit returns or pay taxes on time.
-If an employer passes away or changes, their tax obligations can transfer to their successors.