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IT ACT 2012 Updated as Per Finance Act 2012

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  REV. 2012  Income Tax Act CAP.470 1   CHAPTER 470 THE INCOME TAX ACT ARRANGEMENT OF SECTIONS PART 1 - PRELIMINARY Section   Page 1 Short title and commencement………………………………..………….……….12 2 Interpretation…………………………………………………………...……… 12-24 PART II - IMPOSITION OF INCOME TAX 3 Charge of tax………………………………………………..………………… 24-25 4 Income from businesses….…………………………………………….……… 25-27 4A Income from business where foreign exchange gain or loss is realized……… … 27-28 4B Export processing zone enterprise…………………………..………………………28 5 Income from employment etc…………………………………………………… 28-36 6 Income from the use of property………………………………………..…………...37 7 Income from dividends…………………………………………..……………… 37-38 7A Dividend tax account……………………………………………..……………… 38-39 8 Income from pensions……………………………………..…………………….. 39-43 9 Income of certain non-resident persons deemed derived from Kenya……………….43-44 10 Income from management or professional fees, royalties, interest and rents…… 44 11 Trust income, etc. deemed income of trustee, beneficiary, etc…………………… 44-45 12 Imposition of instalment tax………………………….…………………..………. 45-46 12A Imposition of advance tax……………….……………………………………………46    Rev. 2012  Income Tax Act CAP.470  2 12B Imposition of fringe benefit tax……………….………………………….………...46-47 12C Imposition of turnover tax …………………………………………………………47-48 PART III - EXEMPTION FROM TAX  13 Certain income exempt from tax, etc………………………..………………….……..48 14 Interest on Government loans, etc, exempt from tax……………………..……………48 PART IV - ASCERTAINMENT OF TOTAL INCOME 15 Deductions allowed……………………..………………………………………..…49-57 16 Deductions not allowed……………………………..……………………………….57-59 17   Ascertainment of income of farmers in relation to stock……………….……………59-61 17A Presumptive income tax (  Repealed  )…...………………………………….………………………………………61 18   Ascertainment of gain or profits of business in relation to certain   non- resident persons……………………………………………………..…………..61-63   19 Ascertainment of income of insurance companies……………………….……….….63-67 19A Co-operative societies………………………..………………………………………67-69 20 Unit trusts………………………………..………………………………………….......69 21 Members' clubs and trade associations………………………………………………69-70 22 Purchased annuities, other than retirement annuities etc……………………………..70-72 22A Deduction in respect of contributions to registered pension or provident funds……………………………………………………………..……….………….72-75 22B Deductions in respect of registered individual retirement funds………….……………..75 22C Registered home ownership savings plan…………………….………………………75-76 23 Transactions designed to avoid liability to tax………………….…………………….76-77 24 Avoidance of tax liability by non-distribution of dividends………...………………..77-78    Rev. 2012  Income Tax Act CAP.470  3 25 Income settled on children……………………...………………...……………….….78-80 26 Income from certain settlements deemed to be income of settlor…………………… 80-82 27 Accounting periods not coinciding with year of income, etc……….…….……………...82 28 Income and expenditure after cessation of business………….………………………….83 PART V - PERSONAL RELIEFS  29 General…………………………………………….………………….………………83-84 30 Personal relief………………………………………………………….…………………84 31 Insurance Relief ……………………………………………………….………………84-85 32 Special Single Relief (  Repealed  )……………………………………….…………………85 33 Insurance Relief (  Repealed  )………………………………………….……………………85 PART VI - RATES, DEDUCTIONS AND SET-OFF OF TAX AND DOUBLE TAXATION RELIEF   A Rates of Tax  34 Rates of tax………………………………………………………….….………..……86-88 34A Deduction in respect of certain rates of tax (  Repealed  )……………….….………………..88 B Deduction of Tax  35 Deduction of tax from certain income……………………………….………………. 88-93 36 Deduction of tax from annuities, etc paid under a will, etc…………….…………….. 93-94 37 Deduction of tax from emoluments……………….…………………………………. 94-95 37A Penalty for failure to make deductions under Section 35, 36 or 37……………………....95 38 Application to Government……………………………………….……………..……….96 C Set-off of Tax  39 Set-off of tax……………………………………………..……………………….…......96 39A Set-off of import duty……………………………………..……………………….……96    Rev. 2012  Income Tax Act CAP.470  4 D Double Taxation Relief 40 Relief in respect of inter-state tax (  Repealed  )……………………....…….………..……..97 41 Special arrangements for relief from double taxation………………….…………..…….97 41A Agreements for exchange of information………………………………………………..97 42 Computation of credits under special arrangements……………….….……………....97-98 43 Time limit…………………..…………………………………………….………… .98-99 PART VII - PERSONS ASSESSABLE 44 Income of a person assessed on him……………….…………………..….…………..…..99 45 Wife's income, etc……………………………….……………………..…………………99 46 Income of incapacitated person…………………………………………….…….……….99 47 Income of non-resident person…………………………………………….……….....99-100 48 Income of deceased person, etc………………………………………………..……...…100 49 Liability of joint trustees……………………………………………………………..…..100 50 Liability of person in whose name income of another person is assessed…………………………………………………………………………….........100 51 Indemnification of representative………………….…………………………………..…100 PART VIII - RETURNS AND NOTICES 51A Returns Records etc to be in official languages…………………………………………..101 52 Returns of income and notice of chargeability……………………………………....101-102 52A Instalment returns (  Repealed  )…………..……………………………………………......102 52B Final return with self-assessment……………………………………………………102-103 53 Provisional returns…………………………………………………….……….……103-104 54 Documents to be included in return of income………………………….…….…..…104-107 54A Keeping of records of receipts, expenses, etc………………………….……………….107

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