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Value Added Tax Refund on Bad Debts

Value Added Tax Refund on Bad Debts

This alert brings to your attention the provisions of Section 31 of the Value Added Tax Act (VAT Act), 2013 on the refund of tax on bad debts.

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Tax Alert

Summary

This alert brings to your attention the provisions of Section 31 of the Value Added Tax Act (VAT Act), 2013 on the refund of tax on bad debts.

Background and KPMG Kenya’s assistance

The VAT Act provides that a person who in the course of a business, makes taxable supplies or expects to make taxable supplies of KES 5,000,000 or more, in any period of twelve months should register for VAT.

Generally, where a registered person makes taxable supplies to customers, they are required to charge, account for and remit VAT on these supplies as provided for in the VAT Act. In this case, by the 20th day of the subsequent month....

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