KRA Clarifies Tax Filing Rules for Businesses With Zero Profits

Some businesses have been left wondering what happens to their tax returns in the event they incur losses during a financial year...

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The Kenya Revenue Authority (KRA) has clarified that businesses must file tax returns even if they recorded zero profits for the year.

Businesses are required to declare all income and expenses incurred, regardless of profit status.
The KRA issued the clarification via X (formerly Twitter) in response to taxpayer inquiries.
Failure to file by the June 30 deadline can result in penalties of Ksh 2,000 for individuals and up to Ksh 20,000 for companies.

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