Kenya National Chamber of Commerce and Industry (KNCCI) has urged the business community to avoid putting their businesses in distress by paying their taxes on time and maintaining proper business records.
Chamber President Richard Ngatia said the Chamber is concerned at the high number of businesses hit by high tax bills adding they had requested the Kenya Revenue Authority to recover due taxes in a manner that does not kill the businesses.
He said businesses need to pay due taxes on time and file the necessary returns while keeping proper records in case KRA needs to verify anything.
Speaking in Embu Friday, Ngatia said they are working with KRA to sensitise the business community on when to hire accountants and tax consultants if needed so that they are not caught on the wrong side of the law.
Ngatia was concerned on some high profile arrests over unpaid taxes with some firms hit with bills running into billions of shillings.
Ngatia was addressing the media in Embu where they signed an MOU with University of Embu.
Through the memorandum, the two institutions will work together to ensure the university produces graduates that are fit for industry through regular consultations over curricula and the chamber offering opportunities for internship.
Ngatia said the chamber will also offer opportunities for the university’s teaching staff to visit other countries to see the industry standards there.
University of Embu Vice Chancellor Prof. Daniel Mugendi welcomed the partnership which he said was in line with the university’s endeavour to produce industry-ready graduates.
He added that the chamber and the university will jointly develop short courses for the business community that can help small and medium entrepreneurs improve their business record keeping skills, their knowledge of how to do business with government and manage their tax obligations.
By Steve Gatheru
