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What is VAT
Kenya is among the growing states with a big economy racked at 23rd in Africa. The Kenya Revenue Authority is the body responsible for assessment, Collection and accounting in accordance with the law. The law requires all businesses and persons with a VAT obligation to file their returns by the 20th of every month. VAT is tax imposed on all goods and services whenever value is added at each stage of the supply chain. Filing returns has been made easy for every tax payer in Kenya, the introduction of the itax since the year 2014 has seen that all Kenyans even in remote areas can easily file their returns at the comfort of their homes. The system is user friendly and simpler as the procedures are laid down by the KRA.
How to file VAT on itax
Log into itax and download the worksheet. After logging in to itax navigate to “Value Added Tax” through Returns tab > File returns > Value Added Tax and download the worksheet.
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Download the worksheet from the portal by clicking the diskette icon shown below.
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Photo courtesy tallysolutions.com
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Fill in the worksheet and upload the file. After carefully filling in all the tabs in the worksheet provided, save your worksheet in your preferred location on your hard drive. If the worksheet generates any errors, you will have to make appropriate collections.
Upload the Zip file to the system by navigating to the “file returns tab” as earlier discussed, the system will redirect you to the ‘e-returns page. Choose “VAT” on the drop down panel next to tax obligations.
Click on the upload button and navigate to where you saved your file in your hard disk. Having read and understood the terms and conditions, click the upload button. The system will however mark your work sheet with red stars if your worksheet is erroneous.
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Photo courtesy www.wingubox.com
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After a successful upload, the system will provide you with an acknowledgement number, download the Returns receipt with the link provided.
Click on payments and select your mode of payment, you can choose between cash, cheque and RTGS
How to file nil returns
Log into itax to access your business, company or personal profile. Navigate to File Nil Returns through the Returns tab and select Value Added Tax (VAT) to start filing your returns.
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Photo courtesy www.eldoretleo.com
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The systems auto fills return dates for the Nil returns, click “Yes” on the pop-up to confirm and submit your Nil returns. Download the Returns Receipt by clicking on the provided link as shown
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Photo courtesy www.kenyans.com
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Don’t forget to log out once you complete filing your returns especially if you are at a cyber café.
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