Advance Tax Deadline for commercial vehicles set for Jan 20

Advance Tax Deadline for commercial vehicles set for Jan 20
(240116) -- SHENZHEN, Jan. 16, 2024 (Xinhua) -- Vehicle carrier vessel "BYD EXPLORER NO.1" arrives at Xiaomo International Logistics Port in Shenzhen, south China's Guangdong Province, Jan. 14, 2024. "BYD EXPLORER NO.1," a vehicle carrier vessel leased to Chinese automaker BYD, held its maiden voyage ceremony on Monday at a port in Shenzhen, south China's Guangdong Province. With more than 5,000 new energy vehicles (NEVs) on board, it set sail for the ports of Vlissingen in the Netherlands and Bremerhaven in Germany. It is the first vessel in the shipping fleet of BYD, which has joined a number of Chinese automakers in accelerating car exports by operating their own shipping fleets. (Xinhua)

NAIROBI, Kenya, Jan 15 – Kenya Revenue Authority (KRA) has reminded commercial vehicle owners to pay their advance tax for the 2025 income year by January 20, 2025. 

Advance tax rates vary depending on the type of vehicle.

Vans, pick-ups, trucks, prime movers, trailers, and lorries are taxed at Sh2,500 per ton of load capacity, with a minimum annual payment of Sh5,000. Saloons, station wagons, mini-buses, buses, and coaches are charged Sh100 per passenger capacity per month, also subject to a minimum of Sh5,000 annually.

KRA noted that advance tax must also be paid before the transfer of ownership in cases where a commercial vehicle changes hands. This ensures the new owner is registered only after the tax has been cleared.

Failure to comply with the January 20 deadline may result in significant penalties. This annual obligation is a legal requirement under Section 12A of the Income Tax Act and Paragraph 8 of the Third Schedule.

The authority has called on taxpayers to comply with the regulations to avoid penalties and remain on the right side of the law.