@BdAfrica

KRA goes for Sh22.5bn VAT claim cheats - 4 months ago, 16 Nov 09:53

Patrick Alushula

The Kenya Revenue Authority (KRA) Thursday said it was examining Sh22.56 billion worth of outstanding input value added tax (VAT) claims made in the past 18 months for possible fraud after it detected inconsistencies between purchase and sales invoices submitted by traders.

Use of the newly installed VAT auto assessment (VAA) system has flagged out many buyer taxpayers who are claiming input VAT that the sellers have not declared as output VAT, pointing to a possible tax leakage, the taxman said.

Deputy Commissioner for policy and tax advisory Caxton Ngeywo said KRA plans to lock out traders who have been making fictitious and unsupported claims from the list of eligible recipients of the refunds.

Official data for January 2018 show that of the 642,557 invoices valued at Sh141 billion, Sh22.56 billion input tax claims did not match what traders had submitted as output VAT, according to KRA data that captured 35,876 traders.

“We want ...
Read More


Category: business news corporate economy markets opinion lifestyle

Item ID: 71b46a44-4ad7-445b-a847-dd5f24ace1bf

kadiNewsItemCategoryList
  1. newsPriority: 3.01
  2. calculatedNewsPriority: 78.335
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: business
  6. title:

  1. newsPriority: 3.01
  2. calculatedNewsPriority: 78.335
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: news
  6. title:

  1. newsPriority: 2.2
  2. calculatedNewsPriority: 77.525
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/corporate/539550-539550-75xmgez/index.html
  5. name: corporate
  6. title:

  1. newsPriority: 0.3
  2. calculatedNewsPriority: 50.517
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/economy/3946234-3946234-65o5j7/index.html
  5. name: economy
  6. title:

  1. newsPriority: 2.3
  2. calculatedNewsPriority: 77.625
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/markets/539552-539552-ujwmr5/index.html
  5. name: markets
  6. title:

  1. newsPriority: 2.301
  2. calculatedNewsPriority: 77.626
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/analysis/539548-539548-bepu06/index.html
  5. name: opinion
  6. title:

  1. newsPriority: 2.201
  2. calculatedNewsPriority: 77.526
  3. description:
  4. parsedURL: http://www.businessdailyafrica.com/lifestyle/547058-547058-1027qmj/index.html
  5. name: lifestyle
  6. title:

compoundTime
  1. timeLastCalculatedUpdate: Nov 16, 2018 9:53:10 AM
  2. timeModifiedAsFromUser: Nov 16, 2018 6:45:07 AM
  3. timeCreatedAsFromServer: Nov 16, 2018 9:53:10 AM
  4. timeUpdatedAsFromUser: Mar 21, 2019 11:45:29 PM
  5. timeCreatedAsFromUser: Nov 16, 2018 6:38:21 AM
  6. timeUpdatedAsFromServer: Mar 21, 2019 11:45:29 PM
  7. timeModifiedAsFromServer: Nov 16, 2018 9:53:09 AM

Suggested

1 hours ago, 21:53
KAA kept in the dark over airport takeover

The Kenya Airports Authority (KAA) was not involved in the preparation of a Cabinet memorandum that sanctioned the proposed takeover of Jomo Kenyatta International Airport (JKIA) by struggling ...

Category: business news

Item ID: 35670cc7-1d26-4e6a-866f-9d84f1657328

kadiNewsItemCategoryList
  1. newsPriority: 0.013
  2. calculatedNewsPriority: 0.013
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: business
  6. title: Business News

  1. newsPriority: 0.013
  2. calculatedNewsPriority: 0.013
  3. description: View the latest and breaking News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: news
  6. title: News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 9:53:38 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 6:42:10 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 9:53:38 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 9:55:19 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 5:24:52 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 9:55:19 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 9:52:59 PM
1 hours ago, 21:53
MWENDA: Prepare counties to attract private capital

The past years have witnessed county governments make fundamental progress in entrenching devolution into the social, economic and political fabric of the country. As devolution continues to mature, ...

Category: business news

Item ID: f1b1e6fd-26a5-4691-864f-4e71d7fd59ab

kadiNewsItemCategoryList
  1. newsPriority: 0.014
  2. calculatedNewsPriority: 0.014
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: business
  6. title: Business News

  1. newsPriority: 0.014
  2. calculatedNewsPriority: 0.014
  3. description: View the latest and breaking News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: news
  6. title: News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 9:53:41 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 6:38:57 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 9:53:41 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 9:55:19 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 4:15:19 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 9:55:19 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 9:53:00 PM
2 hours ago, 21:44
Grabbers descend on unclaimed land in Embakasi

A new wave of land grabbing has erupted in the controversial Embakasi Ranching Company even as the government announced that it would be issuing title deeds to shareholders soon. Grabbers are ...

Category: business markets news economy lifestyle opinion corporate

Item ID: 79dbe991-03a7-4dc8-831b-4a6d5801d558

kadiNewsItemCategoryList
  1. newsPriority: 0.015
  2. calculatedNewsPriority: 0.015
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: business
  6. title: Business News

  1. newsPriority: 0.033
  2. calculatedNewsPriority: 0.033
  3. description: View the latest and breaking Market News
  4. parsedURL: http://www.businessdailyafrica.com/markets/539552-539552-ujwmr5/index.html
  5. name: markets
  6. title: Markets News

  1. newsPriority: 0.015
  2. calculatedNewsPriority: 0.015
  3. description: View the latest and breaking News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: news
  6. title: News

  1. newsPriority: 0.073
  2. calculatedNewsPriority: 0.073
  3. description: View the latest and breaking news on Economy & Money
  4. parsedURL: http://www.businessdailyafrica.com/economy/3946234-3946234-65o5j7/index.html
  5. name: economy
  6. title: Economy News

  1. newsPriority: 0.063
  2. calculatedNewsPriority: 0.063
  3. description: View the latest Lifestyle News
  4. parsedURL: http://www.businessdailyafrica.com/lifestyle/547058-547058-1027qmj/index.html
  5. name: lifestyle
  6. title: LifeStyle News

  1. newsPriority: 0.073
  2. calculatedNewsPriority: 0.073
  3. description: View the latest Opinions from policy makers
  4. parsedURL: http://www.businessdailyafrica.com/analysis/539548-539548-bepu06/index.html
  5. name: opinion
  6. title: Opinions

  1. newsPriority: 0.063
  2. calculatedNewsPriority: 0.063
  3. description: View the latest and breaking Corporate News
  4. parsedURL: http://www.businessdailyafrica.com/corporate/539550-539550-75xmgez/index.html
  5. name: corporate
  6. title: Corporate News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 9:44:51 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 6:39:24 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 9:44:51 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 9:45:14 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 4:52:56 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 9:45:14 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 9:43:53 PM
1 hours ago, 21:53
Grabbers go for unclaimed land in Embakasi

A new wave of land grabbing has erupted in the controversial Embakasi Ranching Company even as the government announced that it would be issuing title deeds to shareholders soon. Grabbers are ...

Category: topnews news business

Item ID: 7186901a-d9e8-424d-b455-b8f16faf4c5b

kadiNewsItemCategoryList
  1. newsPriority: 0.023
  2. calculatedNewsPriority: 0.023
  3. description: View the latest and breaking Top News
  4. parsedURL: http://www.nation.co.ke/
  5. name: topnews
  6. title: Top News

  1. newsPriority: 0.023
  2. calculatedNewsPriority: 0.023
  3. description: View the latest and breaking News
  4. parsedURL: http://www.nation.co.ke/
  5. name: news
  6. title: News

  1. newsPriority: 0.02
  2. calculatedNewsPriority: 0.02
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.nation.co.ke/business/996-996-x0uutpz/index.html
  5. name: business
  6. title: Business News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 9:53:37 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 6:48:24 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 9:53:37 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 9:55:19 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 4:52:56 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 9:55:19 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 9:53:13 PM
1 hours ago, 21:53
NIC Bank profit up 2pc, shareholders set for higher dividend

NIC Bank’s net earnings for 2018 rose by a slim two percent to Sh4.23 billion on the back of higher non-funded income and a cut in loan loss provision that offset falling interest income. The mid-tier ...

Category: topnews news business

Item ID: 2528dbc6-ca25-4fad-84fb-89d1c7f3cbe1

kadiNewsItemCategoryList
  1. newsPriority: 0.034
  2. calculatedNewsPriority: 0.034
  3. description: View the latest and breaking Top News
  4. parsedURL: http://www.nation.co.ke/
  5. name: topnews
  6. title: Top News

  1. newsPriority: 0.022
  2. calculatedNewsPriority: 0.022
  3. description: View the latest and breaking News
  4. parsedURL: http://www.nation.co.ke/business/996-996-x0uutpz/index.html
  5. name: news
  6. title: News

  1. newsPriority: 0.022
  2. calculatedNewsPriority: 0.022
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.nation.co.ke/business/996-996-x0uutpz/index.html
  5. name: business
  6. title: Business News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 9:53:39 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 6:48:24 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 9:53:39 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 9:55:19 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 5:28:34 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 9:55:19 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 9:53:15 PM
1 hours ago, 22:03
Nairobi MCAs seek Sh500m wards fund

Nairobi ward representatives want the county executive to set aside at least five percent of its total annual income as Ward Development Fund (WDF). This could see the Members of County Assembly ...

Category: business news lifestyle markets economy opinion corporate

Item ID: e3ef612a-cf1b-4a33-badd-d03d71ee0814

kadiNewsItemCategoryList
  1. newsPriority: 0.025
  2. calculatedNewsPriority: 0.025
  3. description: View the latest and breaking Business News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: business
  6. title: Business News

  1. newsPriority: 0.025
  2. calculatedNewsPriority: 0.025
  3. description: View the latest and breaking News
  4. parsedURL: http://www.businessdailyafrica.com/
  5. name: news
  6. title: News

  1. newsPriority: 0.045
  2. calculatedNewsPriority: 0.045
  3. description: View the latest Lifestyle News
  4. parsedURL: http://www.businessdailyafrica.com/lifestyle/547058-547058-1027qmj/index.html
  5. name: lifestyle
  6. title: LifeStyle News

  1. newsPriority: 0.055
  2. calculatedNewsPriority: 0.055
  3. description: View the latest and breaking Market News
  4. parsedURL: http://www.businessdailyafrica.com/markets/539552-539552-ujwmr5/index.html
  5. name: markets
  6. title: Markets News

  1. newsPriority: 0.055
  2. calculatedNewsPriority: 0.055
  3. description: View the latest and breaking news on Economy & Money
  4. parsedURL: http://www.businessdailyafrica.com/economy/3946234-3946234-65o5j7/index.html
  5. name: economy
  6. title: Economy News

  1. newsPriority: 0.055
  2. calculatedNewsPriority: 0.055
  3. description: View the latest Opinions from policy makers
  4. parsedURL: http://www.businessdailyafrica.com/analysis/539548-539548-bepu06/index.html
  5. name: opinion
  6. title: Opinions

  1. newsPriority: 0.045
  2. calculatedNewsPriority: 0.045
  3. description: View the latest and breaking Corporate News
  4. parsedURL: http://www.businessdailyafrica.com/corporate/539550-539550-75xmgez/index.html
  5. name: corporate
  6. title: Corporate News

compoundTime
  1. timeLastCalculatedUpdate: Mar 21, 2019 10:03:04 PM
  2. timeModifiedAsFromUser: Mar 21, 2019 4:15:00 PM
  3. timeCreatedAsFromServer: Mar 21, 2019 10:03:04 PM
  4. timeUpdatedAsFromUser: Mar 21, 2019 10:04:45 PM
  5. timeCreatedAsFromUser: Mar 21, 2019 7:00:00 PM
  6. timeUpdatedAsFromServer: Mar 21, 2019 10:04:45 PM
  7. timeModifiedAsFromServer: Mar 21, 2019 10:02:57 PM