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Tax and Finance Questions answered by Guest Lawyer Anna Kandu
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Today we discuss questions related to tax and finance questions, which will be answered by Anna Kandu, a Lawyer in Corporate Commercial Transactions, Tax, Banking and Finance
Question 1
KRA has frozen my bank account because I had not filed tax returns for four years when I was studying outside the country, and now I have massive penalties. How do I unfreeze the accounts?
Question 2
I guaranteed my husband a loan before we divorced. How do I get out of that situation?
Question 3
I run a restaurant and butchery under one company, and I’ve gotten an offer from someone who wants to buy the restaurant. How do I proceed legally?
Question 4
I received an email from KRA saying, “Records held by the commissioner of domestic taxes indicate that your rental income tax declarations have been decreasing at an alarming rate. You are, therefore, advised to review the decline by amending your returns and paying up all resultant taxes before close of business today. Failure will result in enforced recovery.” What does this mean?
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