Tax Matters - November 2008

As we near the end of 2008, we find ourselves in a position where government revenue collections are well behind target, inflationary pressures increasing and the global economy sliding into recession. All these have led to a KRA that is actively seeking collections and not necessarily with the right reasons.

This pressure on KRA to collect and at times unfamiliarity with the tax regime (never accepted in mitigation) and its ever changing legislation can result in an inability to control the costs of tax compliance and assessments for tax and penalties. The need for careful tax management is increasing and yet it is often left to remote management.

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