Unlocking Returns: A Comprehensive Guide to VAT, ITI, Rental, and ITC Explained

What are Returns (VAT,ITI,Rental,ITC)

A return is a document that is filed with a government agency to report income, expenses, or other information. In Kenya, there are a number of different types of returns that businesses and individuals are required to file with the Kenya Revenue Authority (KRA). It is important to file all the Kenya Tax Returns you are obliged to.

• VAT return is a document that is filed by businesses that are registered for value-added tax (VAT). The VAT return reports the amount of VAT that was collected from customers and the amount of VAT that was paid to suppliers.
• ITI return is a document that is filed by businesses that are registered for income tax. The business earned the amount of income reported in the ITI return and paid the amount of income tax mentioned.
• Rental return is a document that is filed by businesses that are renting property. The rental return reports the payer’s rent amount and the withholding tax amount paid.
• ITC return is a document that is filed by businesses that are importing goods. The ITC return reports that it paid the amount of import duty and claimed the amount of input tax credit.

Requirements for Kenya Tax Returns (VAT,ITI,Rental,ITC)

VAT Return (Kenya Tax Returns)

• Valid KRA PIN
• Valid Business Registration Certificate
• Proof of income and expenses
• VAT invoices
• VAT returns from suppliers

ITI Return (Kenya Tax Returns)

• Valid KRA PIN
• Valid Business Registration Certificate
• Proof of income and expenses
• ITI invoices
• ITI returns from suppliers

Rental Return

• Valid KRA PIN
• Valid Business Registration Certificate
• Proof of rent paid
• Withholding tax returns from landlords

ITC Return

• Valid KRA PIN
• Valid Business Registration Certificate
• Proof of import duty paid
• Input tax credit claims

How to apply for Kenya Tax Returns (VAT,ITI,Rental,ITC) 

Here are the steps on how to apply for (VAT, ITI, Rental, and ITC) Returns online 

Go to the KRA website and log in to your iTax account.

1. Click on the “Returns” tab.
2. Select the type of return you want to file.
3. Click on the “File Return” button.
4. Enter the required information and submit the return.

Here are the specific steps for each type of return:

VAT Return

1. Enter the period for which you are filing the return.
2. Enter the total amount of VAT you collected from customers.
3. Enter the total amount of VAT you paid to suppliers.
4. Enter the total amount of VAT you are claiming as a refund.
5. Submit the return.

ITI Return

1. Enter the period for which you are filing the return.
2. Enter the total amount of income you earned.
3. Enter the total amount of expenses you incurred.
4. Enter the total amount of income tax you are liable to pay.
5. Submit the return.

Rental Return

1. Enter the period for which you are filing the return.
2. Enter the total amount of rent you paid.
3. Enter the total amount of withholding tax you paid.
4. Submit the return.

ITC Return

1. Enter the period for which you are filing the return.
2. Enter the total amount of import duty you paid.
3. Enter the total amount of input tax credit you are claiming.
4. Submit the return.

Once you have submitted the return, you will receive an acknowledgement receipt. The KRA will process your return and you will receive a refund or a bill, depending on the amount of tax you are liable to pay.

Cost for applying for (VAT,ITI,Rental,ITC) Returns

There is no application fee for filing VAT, ITI, Rental, and ITC Returns . Filing returns may involve other costs, like obtaining the required documentation or using a tax preparation service. We will charge you Ksh 200 at nikonet Cyber to file your returns.

Frequently asked Questions on (VAT,ITI,Rental,ITC) Returns

What are the penalties for not filing Kenya Tax Returns?

The penalties for not filing returns are more severe than the penalties for filing returns late. Businesses and individuals who do not file returns may be subject to a fine, imprisonment, or both.

What are the benefits of filing returns on time?

There are several benefits to filing returns on time. First, it helps to ensure that you are paying the correct amount of taxes. Second, it helps to avoid penalties and interest. Third, it helps to protect your business from audit. Fourth, it helps to build a good relationship with the KRA.

What are the due dates for filing returns?

The due dates for filing returns is on 30th June of every year