How true is this information?

remember tax is voluntary if you run a business but compalsary if you depend on government

As a finance & accounting professional, I approve this information 💯. SMEs with monthly turnover (gross sales) of 5M and below qualify for this TOT. It's a big tax relief to small businesses. Finance bill 2024 that we rejected had proposed to raise the minimum threshold to 10M.

It is true, but with a few technical corrections. 1] The tax rate is 1.5% of monthly sales revenue; not 1% 2] The max sales revenue limit is Sh25M per year - not Sh5M per month To be clear: Turn Over Tax does NOT exempt you from requirements of eTIMS! You must register.

She's misinformed You're better off assessing your profit or loss whose excesses can be carried forward Taxing revenue is akin to opening your bedroom for the neighbours to walk in and out

Revenue is not profit,the business could still end up loss making yet has already paid the 1%. Need to critically analyze past trends and business context before making this decision. 1% tax on revenue is not necessarily lower than 30% on profit. Do your math first.

Some truth with lot's of misrepresentation

Pple r nowdays taking critical information 4rm social-media, yet u don't even know her qualifications for talking on tax. With Turn-over tax, you pay tax on revenue, and with little profit margins or loss, it'll wipe out ur capital. Tax should only b paid on profit...not revenue.

What if you are a start up and you want to sell to corporate who require etr with buyer's pin

TOT is 3% since @MamaRachelRuto rigged himself in

Misinformation!!!! TOT is currently 1.5% and another 1.5% Housing Levy inshort TOT is 3% chini ya waba