Q.1163 Tax Reporting of Foreign Income under CRS – Kenya Tax
Amnesty for voluntary declaration to avoid penalties ends June 30, 2018
Question: hi how are you i am sending copy of faq on above matter indian living in kenya are worried about their money in indian bank what will happen to their money if indian gov. send detail of account under CRS agrement Answer: Thank you for your email and effort to help Indians in Kenya who may hold assets abroad. For the benefit of other Kenya residents concerned about reporting of their foreign accounts in India or other countries, I am posting the Kenya Revenue Authority document for those interested. Tax Amnesty by Kenya Government for voluntary disclosure of foreign income offers no penalties of levying taxes or interest on foreign income earned prior to December 31, 2017. This amnesty gives an opportunity to Kenyans to declare assets or income they may hold abroad without penalties. The Amnesty ends June 30, 2018. In view of the new exchange of foreign accounts agreement between countries under CRS. This may be an opportunity for Kenya residents to avoid taxes and penalties by declaring their foreign assets in a timely manner. Readers are be reminded that the Kenya tax amnesty to declare foreign income/accounts etc. ends on June 30, 2018. For more detailed information I am posting a document issued by the Kenya Revenue Authority. To view document Click HERE.
Information
by Virendar Chand
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
© Copyright 2006 Nriinformation.com
More on CRS - Exchange of Tax Information between Governments
India to share NRI bank account information with other countries >>
Pros & Cons of keeping non-resident bank accounts in India >>
NRI - OCI - PIO Guide & Information
NriInformation Questions &Answers
Read Disclaimer at bottom of page
N
RI Information
Informing
educating and connecting Indians across the globe
© Copyright 2006 Nriinformation.com
Q.1163 Tax Reporting of Foreign
Income under CRS – Kenya Tax
Amnesty for voluntary
declaration to avoid penalties
ends June 30, 2018
Question: hi how are you i am sending copy of faq on above matter indian living in kenya are worried about their money in indian bank what will happen to their money if indian gov. send detail of account under CRS agrement Answer: Thank you for your email and effort to help Indians in Kenya who may hold assets abroad. For the benefit of other Kenya residents concerned about reporting of their foreign accounts in India or other countries, I am posting the Kenya Revenue Authority document for those interested. Tax Amnesty by Kenya Government for voluntary disclosure of foreign income offers no penalties of levying taxes or interest on foreign income earned prior to December 31, 2017. This amnesty gives an opportunity to Kenyans to declare assets or income they may hold abroad without penalties. The Amnesty ends June 30, 2018. In view of the new exchange of foreign accounts agreement between countries under CRS. This may be an opportunity for Kenya residents to avoid taxes and penalties by declaring their foreign assets in a timely manner. Readers are be reminded that the Kenya tax amnesty to declare foreign income/accounts etc. ends on June 30, 2018. For more detailed information I am posting a document issued by the Kenya Revenue Authority. To view document Click HERE.
More on CRS - Exchange of
Tax Information between
Governments
India to share NRI bank
account information with
other countries >>
Pros & Cons of keeping
non-resident bank
accounts in India >>
NriInformation FAQ
Read Disclaimer at bottom of page
