KRA To Fines Sh100K To Individuals Filing False Information Or Face 3 Years Jail Term
By Nevies Ochieng Odhiambo - 2021-05-07 03:45:19 - [General]
This is new punitive move is aimed at curbing tax cheats and dodgers.
The penalties also apply to companies, employers, and business partners who will be slapped with a three-year jail term. This new step taken by KRA is contained in the Finance Bill that is before Parliament and seeks to review a number of taxation laws.
“A person who makes a false statement or omits any information required to be included in an information return under 6B shall be liable to a penalty of one hundred thousand shillings for each such false statement or omission to imprisonment for a term not exceeding three years,” says the Bill.
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