KBF

Sony on Wednesday announced that the PlayStation 5 will start at $399.99 and goes on sale Nov. 12 in the...

Financial services firm UAP Old Mutual Group has made key appointments to its executive suite by naming Mr. Arnold Dippenaar...

The Tax Appeals Tribunal has given Kenya Revenue Authority (KRA) a nod to demand   and   collect   Kshs.   1.2   billion   in   taxes   from    an   international communications firm. The tax tribunal at Nairobi dismissed an application by  Oxygen 8 East Africa Limited, seeking  extension to file an appeal out of time to contest the tax debt.  The tax dispute arises from KRA’s investigation audit against the firm for July 2015  to  February  2019  that  raised an  assessment  of  Kshs.  1,185,596.692  for withholding tax. The assessment was confirmed vide an objection decision on 21st May, 2019. Aggrieved by  the  KRA’s  decision,  Oxygen  8 East  Africa  Ltd filed a Notice of Appeal at the Tax Appeals Tribunal but failed to file a Memorandum of Appeal within time.   On 26th   June 2020, the firm  sought for extension of time to file its  Memorandum  of  Appeal  and Statement  of  Facts  on  the  grounds  that  its Managing   Director   was   absent   from   the   country   and  instructions  were received by its tax agents after the expiry of time. KRA opposed the Application on  grounds that it was incompetent for  failure to include a supporting affidavit and that the Notice of appeal filed by Oxygen 8 East Africa Ltd was invalid. The Tribunal had on 11th   September, 2020 ruled that its power to extend time is   donated   by   Section   13   (3)   of   the   Tax   Appeals   Tribunal   Act   and   in determining   an   application  for  extension  of  time  it  is  guided  by  the  Tax Appeals  Tribunal  Act  and the  Tax  Appeals  Tribunal  (Procedure)  Rules  2015 which requires that an Application    for an extension of time to be accepted, a party  must meet the conditions such as absence from Kenya, sickness and any other reasonable cause....

 Nairobi Governor Mike Sonko has called on Land Rates defaulters to take advantage of the ongoing one-month waiver period to...

The Jubilee administration looks set to borrow an average of Sh2.5 billion daily before the end of President Uhuru Kenyatta’s...

Some investors who'd set up business in what was considerably idly lying land have woken up to a rude shock,...

RE: COMPULSORY ACQUISITION OF THE NAIROBI RAILWAYS CLUB- L.R NUMBER 209/11953 NAIROBI. We write in reference to our letter dated...

Metropolitan National Sacco Headquarters and Branch Metropolitan National Sacco begun operations in 1977 as a teacher's only Sacco. Its tremendous...

The Ethiopian government has unveiled a set of new bank notes as a part of its efforts to curb cash...

Equity bank customers are crying after their money was frozen from their bank accounts. The bank which is also the...