What is Instalment Tax?
This is tax paid by individuals taxpayers who have a tax liability, that is not fully covered under PAYE, of over Kshs. 40,000 payable for any year.
The installments are spread evenly at 25% of the tax due and payable on the 20th day of the 4th, 6th, 9th and 12th months of the year of income for all taxpayers except those in the Agricultural Sector.
Taxpayers in the Agricultural Sector pay in installments of 75% in the 9th month and 25% in the 12th month.
How do I pay Instalment Tax?
Installment tax is paid via iTax.
Generate a payment slip and present it, with the due tax, at any of the KRA appointed banks.
Do you have any news or article you would like us to publish? Kindly reach us via [email protected] or [email protected].