It is almost that time again. Where people are in a hurry to obtain P9 and file their KRA returns. Unlike in the past, KRA has come up with a new system that makes the process of returns submission easy and painless.
However, one may fail to enjoy these benefits and actually end up suffering if they don’t file their return on time (i.e. by the 30th day of June the year following the year of income.)
KRA measures keep on becoming strict especially with the new I-Tax system. For example,unlike in the past where failure to file an annual return would attract a penalty of only Kshs 1,000, these days the penalty has been increased 20th fold. As a result failure to file an annual return attracts a penalty of Kshs 20,000.
This means that one has to be very alert, especially to make sure that one is not caught up by the deadline. Another issue is the freezing of the I-tax system especially because of too much traffic as people try to submit returns on time.
These and other factors are some of the reasons why one needs to submit his/her return in due time to avoid the negative consequences. In our I-Tax tutorials here, we are going to show you how to submit all types of KRA returns with no hassle.