KRA Declares Sh100,000 Fine For Every False Filed Return Entry
The Bill before the national assembly is aimed at helping KRA in fighting corruption.
Justin Nzioka Kenya Revenue Authority (KRA) has announced stern measures to anyone who dares cheat the system by entering false information while filing returns.
According to the tax authority, every single false entry wil attract not less than Ksh100,000 fine, or a jail term of at least three years.
Not only false information will land one to such consequences, but also filling incomplete information.
The notice comes at a time when KRA has announced deactivation for thousands of KRA PINS for individuals who have not been filing tax reports as required.
About 2 million Kenyans are racing to file their tax returns before the June 2021 deadline. Anyone who will not have filed theirs wil risk PIN deactivation as well as prosecution starting July 1, 2021.
Close to 4.4 million Kenyans filed their returns for the year ended June 2020. KRA estimates that about 5.5 Kenyans will file returns before the June deadline.
KRA reportedly collected about Ksh176.6 billion by April 2021. At the same time, the taxman revealed that discreet sources indicated about Ksh259 billion as unpaid taxes by tycoons.
