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Taxation of Rental Income

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Rahatupu		#11 Posted : Thursday, July 09, 2015 5:32:53 PM
Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne		Tbags wrote: Question?..does or will KRA compel banks to give them information of rental payments to bank accounts? ama how else will they know that I receive rent in my account if I don't declare (I'm not saying I wont declare)..just asking... They'll ask tenants for their landlord's I'd and pin numbers,so you're better off with jua kali tenants.
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mwania		#12 Posted : Friday, July 10, 2015 9:49:55 AM
Rank: Member Joined: 10/29/2007 Posts: 76		Is Residential Building allowed to deduct capital allowance before taxation? NO. If you have references to the Income Tax Act that allow this, please quote it. It applies to factories/ warehouses only.
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kiwaru		#13 Posted : Friday, July 10, 2015 10:32:06 AM
Rank: Member Joined: 8/5/2011 Posts: 125		mwania wrote: Is Residential Building allowed to deduct capital allowance before taxation? NO. If you have references to the Income Tax Act that allow this, please quote it. It applies to factories/ warehouses only. Allowed capital allowance... usually applied as an expense (depreciation) because it wont make sense to give the allowance after tax, NO?? https://www.kpmg.com/Africa/en/K...scal%20Guide%20Kenya.pdf Check this document
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Bachuma Gate		#14 Posted : Friday, July 10, 2015 10:43:52 AM
Rank: Member Joined: 3/26/2012 Posts: 280		@ Rahatupu here we go http://www.kra.go.ke/not...x16.6cm1436334605756.pdf DOH
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mwania		#15 Posted : Friday, July 10, 2015 11:08:04 AM
Rank: Member Joined: 10/29/2007 Posts: 76		Kiwaru. That makes sense. Depreciation is allowable income on fixed assets though I could not see a specific reference to it in the KPMG document. I am also not sure the allowable rate per annum.
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