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Personnal income tax


#1 2009-10-01 00:54:06

fboti
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From: Cairo
Registered: 2009-09-28
Posts: 3
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Personnal income tax

Folks,

I am contemplating to retire in Kenya with my wife. My income offshore will be in the range of 10'000 USD/month, and I will transfer into Kenya the sum I need to have a good life. I plan to have a house or an appartment of my own. Can someone tell me what level of income tax I will have to expect?

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2009-10-01 00:54:06

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#2 2009-10-01 09:29:44

thejoker
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From: Mumbai
Registered: 2009-07-08
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Re: Personnal income tax

Please see the Kenya Revenue Authority website for detailed information:
http://www.revenue.go.ke/

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#3 2009-10-02 17:23:12

fboti
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From: Cairo
Registered: 2009-09-28
Posts: 3
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Re: Personnal income tax

Thanks thejoker, I appreciate the link.

However, the site only provides forms. There is not even a guideline for the case I wanted to start filling them to estimate my tax. The link "assumes" that you know the rules and regulations of the country.
I need either a lawyer to make a simulation based on my inputs, or to find a sort of a rule of tumb.
Please can anyone reading this give me an approximation of what tax to expect in % whith a gross income in the range of 5'000 to 10'000 USD? Thanks in advance.

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#4 2009-10-03 16:16:16

thejoker
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From: Mumbai
Registered: 2009-07-08
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Re: Personnal income tax

Check out the FAQ section:

http://www.revenue.go.ke/incometax/faqincometax.html

The annual rates are as follows:
          First KShs. 121,968 @ 10%
          Next KShs.114, 912 @ 15%
          Next KShs.114, 912 @ 20%
          Next KShs.114, 9120 @ 25%
          Above KShs. 466,704 @ 30%.
These rates also apply to individual and wife's employment, wife's self-employment income and wife's professional income. Personal relief w.e.f 1-1-2005 is Kshs. 13,944 p.a or KShs 1,162 p.m

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#5 2009-10-17 15:32:49

fboti
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From: Cairo
Registered: 2009-09-28
Posts: 3
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Re: Personnal income tax

Thanks for this feedback.
Have found the info you mention in the mentionned site. However I got some informations that foreighners who chose to retire in the country get some sort of tax relief under certain conditions. I will contact the tax office to find out, but I guess that the Governement structure like in all countries is quite complicated and finding this sort of answer might be quite difficult unless I come down and have a formal meeting.
Would you by chance be aware of any such arrangement possibility?
(for ex in Thailand you are tax free if you have a property and spend a few months in the country every year and have a deposit in a local bank of 40'000 USD)

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