TOT registered businesses supplying or expecting to supply taxable goods worth Kshs.The change in filing regime from quarterly basis to a monthly basis.Interest on unpaid tax is 1% of the principal tax due.Late payment penalty is 5% of the tax due.You can now also file and pay your TOT using the new KRA M-service App. Make the payment at a partner bank or through M-pesa.After filing the return, go to payment menu, select 'payment', select the amount payable, and generate a payment slip.
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Management, Professional and Training Fees,.Persons with business income below Ksh.1,000,000 and does not exceed or is not expected to exceed Kshs 50,000,000 in any given year. Turnover Tax (TOT) is payable by resident persons whose gross turnover from business is more than Kshs. 12(c) of the Income Tax Act.įirst introduced vide Finance Act 2006, replaced by Presumptive Income Tax vide Finance Act 2018 then reintroduced vide Finance Act 2019.
Turnover Tax(TOT) is a tax charged on gross sales of a business as per Sec.