Kenya | |||||
How is the first year of operation filed for taxes? |
|||||
id : 36 cat : Business Tax | |||||
Hi a company was registered in July 2015 and it financial yr runs from Jan to Dec...do we need to have an statutory audit so that we can file Tax returns by 30th June 2016. or there r special consuderation for new companies? |
|||||
Asked by : Njenga Moses
DOQ : 2016-06-01 21:00:00 |
|||||
Answer |
|||||
Some background... The Company's Act - s.148 allows for accounts to be prepared within a max 18 months after the registration of the company. Financial Year : You can have audited accounts for 6 months to Dec 2015 & there after 12 months period. There is no requirement to file a return if company is limited and you have chosen the accounting period to be 18 months as your case is. Relax then and wait until 30th June 2017 to file your first return. |
|||||
Answered by : Admin
DOA : 2016-06-02 |
|||||
Comments | |||||
I have just filed a tax return for the newly formed Crb company incorporated in June 2014 did 18 months to Dec 2015 on itax and it works
Phoebe Wakhungu 2016-06-01 21:00:00
|
|||||
For tax purpose does it apply...18 months apply for audit purpose
Njenga Moses 2016-06-01 21:00:00
|
|||||
0 |
Newly formed companies have up to 18months to file their first return so for you the first return will be expected by 30th June 2017..... This will be for 17months from July 2015-Dec2017
|
|||
votesDOWN :
0 votesUP : 0
: Phoebe Wakhungu DOA 2016-06-01 21:00:00 |
||||