KRA Returns Deadline 2024 Set June 30th – Kenya Revenue Authority Issues Warning to Defaulters!

KRA returns deadline is set on 30^th June every year. Non-compliant taxpayers often suffer hefty penalties.

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Filing tax returns is a crucial obligation regardless of your income status. It is an annual duty for the jobless, employed, employers, and corporates.

KRA returns deadline 2024

The deadline for filing individual income tax returns in Kenya, as set by the Kenya Revenue Authority (KRA), is June 30th of the following year.

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This means that for the tax year ending on December 31, the tax return should be filed by June 30 of the subsequent year.

What is Tax Return?

Tax return is a taxpayer’s declaration of all income earned from all sources of revenue during a tax period (usually a year) and the self-assessed tax paid during that year of income.

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In this case, Kenyans are expected to file their income tax returns for the period between January 1 to December 31, 2023, on or before June 30, 2024.

The main reasons for filing tax returns are enlisted below;

• Enables KRA to identify tax defaulters
• Enhancing transparency in revenue collection
• Self-assessment of how much KRA owes taxpayers

Above all, it is a legal requirement under the Income Tax Act.

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Stats show that the majority of Kenyans are not tax compliant even as KRA returns deadline draws nearer.