Which agricultural product is VAT exempt on importation?
The following are VAT exempt transactions under Section 109 of Tax Code. A. Sale or importation of agricultural, livestock, poultry, and marine food products in their “original state”, Provided, that the food is generally used for human consumption.
What is the VAT rate in Kenya 2021?
16%
The rate increased to 16% per Jan 1, 2021. Before that date, the standard VAT rate was 14%. This rate applies for all transactions that take place in Kenya, unless an exception applies (such as a reduced rate, the zero rate or an exemption, or a reason to treat the transaction as outside scope of VAT).
What services are VAT exempt?
VAT exemption for goods and services Sporting activities and physical education. Education and training. Some medical treatments. Financial services, insurance and investments.
How do I download my VAT Certificate in Kenya?
Instructions[edit]
- Select Non-individual under taxpayer type and Online form under mode of registration.
- Enter details about your business.
- Confirm correctness of details and click submit.
- After submission you will be able to download a PDF copy of the certificate while another copy will be sent to your email address.
Which importation is subject to VAT?
Imported goods are liable to VAT at the same rate as applies to similar goods sold within the State. For example, goods which are zero-rated on sale within the State are zero-rated at importation. There are exceptions to this general rule in relation to certain works of art, collectors’ items and antiques.
Are agricultural products VAT exempt?
A sale of goods or transactions is considered VAT Exempt if it falls under SEC 109 – Exempt Transactions. Normally VAT Exempt transactions are basic necessities such as agricultural products, tuition fees, lending activities, real properties, books, transportation, etc.
How do I pay VAT to KRA?
How do I pay for VAT? After filing the VAT return online via iTax, you are required to generate an E-slip which is used to physically pay the tax at the KRA appointed Banks. You may however authorize your bank to pay the tax through a direct credit transfer to the Commissioners account at the Central Bank of Kenya.
When should VAT returns be submitted?
The deadline for submitting the return online and paying HMRC are usually the same – 1 calendar month and 7 days after the end of an accounting period.
What are the 3 types of VAT?
There are three categories of supplies that can be made by a VAT vendor: standard-rated, zero-rated and exempt supplies.
How do I print a VAT Certificate?
Our step-by-step guide will show exactly how to access your business’ VAT certificate today.
- Step 1 – Sign In. Sign in to your Government Gateway account via the HMRC website.
- Step 2 – Find your VAT account.
- Step 3 – View your VAT certificate.
- Step 4 – View, save or print.
Where do I get a VAT Certificate?
If your accountant made your application on your behalf, HMRC will send a copy of the certificate in the post to your registered office address. A copy of the VAT certificate will also be available online as soon as your registration has been processed by HMRC.
What are the different types of VAT registration in Kenya?
Types of VAT registrations in Kenya depend on the person who initiates VAT registration. a. Originators of VAT registration The type of VAT registration depends on the person who initiates the registration. Intending trader VAT registrations. Compulsory VAT registration.
What is the deadline for filing a VAT return in Kenya?
As long as a person is registered for VAT obligation, even if he does not carry on any trading activities, he/she is required to file a return on or before 20th of the following month. Failure to comply is an offence subject to a penalty of Ksh 10,000 for every tax period failure occurs.
How do I create a vat-7 form?
Firstly, seek the “Get Form” button and click on it. Wait until Form Vat -7 is ready to use. Customize your document by using the toolbar on the top.