Startimes dedicates 5 channels to air Euros
237 300The most-awaited football event of the year – UEFA Euro 2020 is set to kick off on 11th June and as…
237 300The most-awaited football event of the year – UEFA Euro 2020 is set to kick off on 11th June and as…
356 300The High Court has upheld the Kenya Revenue Authority’s decision to reject VAT refund claims by three pharmaceutical companies amounting to KShs.180 million. The pharmaceutical companies; Universal Corporation Limited, Elys Chemical Limited and Dawa Limited filed a Petition in the High Court seeking to declare a section of the Finance Act, 2015 unconstitutional for its retrospective provisions. They claimed that the amendments brought through the Finance Act 2015 had infringed on their rights as it had zero-rated medicaments, which were previously exempt. Consequently, upon commencement of the law, KRA declined the refund claims of the pharmaceutical companies on the ground that they ought to have lodged the claim within three (3) months from the date of commencement of the zero-rating. The Petitioners moved to court to seek to declare the section unconstitutional for breach of their right to property and for retrospective obligations upon them. The Court found that no new tax obligations were imposed by the zero-rating of medicaments. The Section conferred a benefit to taxpayers’, but Parliament restricted the manner the benefit could be enjoyed. Since it is the zero-rating that had conferred the benefit to taxpayers, which did not previously exist, there was no breach of the right to property and the companies were not entitled to the refunds having made the application for refund out of the prescribed time period.
315 300ODM has cracked whip on errant MCAs who had planned a coup in the County Assembly leadership. In a…
307 300The Universities Academic Staff Union (UASU) Kenyatta University Chapter, has called for an audit of the institution’s finances for…
476 300The National Environmental Management Authority has confirmed that their mandate to safeguard the health of citizens remains critical and…
267 300Groups that have registered with the National Youth Council are set benefit from a donation of 34,095 KN95 face…
340 300Starehe Boys Center, a leading education institution in Kenya catering for bright but needy students, has benefited from support…
293 300The Tax Appeals Tribunal has ruled that National Bank of Kenya Limited is liable to pay taxes amounting to Kshs. 510,951,944.00. The taxes arise out of disallowed credits wrongfully claimed by the bank under the Income Tax Act. The Tribunal further held that the credits claimed by the bank under the Income Tax Act were clearly incorrect as the claim was not what is envisaged by the law. The Tribunal, in its judgment delivered on 13th May 2021, ruled that National Bank of Kenya Limited was not justified in utilizing alleged tax overpayment to settle off its tax liabilities as the relevant law only authorises the Authority to apply a tax over payment in payment of taxes owed by a taxpayer. Income tax law does not provide a taxpayer with the same leeway, where after self assessment; a taxpayer would utilize and directly apply the tax overpayment to set off taxes due, prior to the verification and ascertainment of the overpayment by the Authority. Tax Tribunal held that the bank ought to have applied for a refund under the Tax Procedures Act, which provides for a procedure for making claims of refund of overpaid taxes.
248 300Spika Wa bunge la kaunti ya Nairobi Ben Mutura ametupilia mbali jaribio la mageuzi ya uongozi wa wachache ambapo…
393 300Katibu mkuu wa chama cha ODM sasa anasema kuwa chama hicho kitaadhibu wakilishi wote waliojaribu kufanyia mabadiliko afisi ya…