Understanding tax amnesty
Under the voluntary tax disclosure programme which kicked off last year, taxpayers who come clean and declare their undisclosed incomes will not face any legal action. This is how it works.
Last year, the government, through the Finance Act (2020) introduced a voluntary tax disclosure programme (VTDP). The programme is a form of tax amnesty for taxpayers who have not been disclosing their incomes to the Kenya Revenue Authority (KRA).
The programme, which took effect in January 2020, will run for three years and will, among other benefits, grant these taxpayers relief of penalties and interest on outstanding tax liabilities.
These experts break down what the tax amnesty is, who qualifies, the benefits that lie therein and how to take advantage of this minimum amnesty window granted by the government.