Kenya’s Taxation of Small Businesses
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Kenya’s Taxation of Small Businesses
In Kenya, small businesses play a crucial role in the economy, contributing significantly to the country’s Gross Domestic Product (GDP) and creating employment opportunities. The government recognizes the importance of small businesses and has put in place various measures to support their growth and development, including the taxation system.
Small businesses in Kenya are subject to the same tax laws and regulations as larger businesses. However, the government has put in place various measures to ease the tax burden on small businesses and make it easier for them to comply with tax laws. These measures include the following:
- Simplified tax regime: Small businesses in Kenya are eligible for a simplified tax regime, which is designed to make it easier for them to comply with tax laws and reduce their tax burden. Under this regime, small businesses are required to pay a flat tax rate of 20% on their taxable income, regardless of the amount.
- Turnover tax: In addition to the simplified tax regime, small businesses in Kenya are also eligible for turnover tax. This is a simplified tax regime that is based on the business turnover, rather than taxable income. Under this regime, small businesses are required to pay a flat tax rate of 3% on their turnover, regardless of the amount.
- Tax exemptions: Small businesses in Kenya are eligible for various tax exemptions, such as exemptions from VAT, import duties, and excise duties. These exemptions are designed to reduce the tax burden on small businesses and encourage their growth and development.
- Tax incentives: The government provides various tax incentives to small businesses in Kenya, such as tax holidays, reduced tax rates, and tax exemptions. These incentives are designed to encourage investment and support the growth and development of small businesses.
- Tax education and awareness: The government provides various tax education and awareness programs to small businesses in Kenya, aimed at increasing their understanding of tax laws and regulations and improving their tax compliance.
To ensure that small businesses comply with tax laws and regulations, the Kenya Revenue Authority (KRA) has various enforcement mechanisms in place, including audits, investigations, and penalties for non-compliance. In addition, KRA provides various taxpayer services, such as registration, tax return filing, and tax payment, to make it easier for small businesses to comply with tax laws.
One of the challenges facing small businesses in Kenya is the lack of awareness about tax laws and obligations. This often results in non-compliance and penalties, which can have a negative impact on the financial stability of small businesses. To address this challenge, the government has increased its efforts to educate and raise awareness about tax laws and obligations among small businesses.
In conclusion, small businesses in Kenya play a crucial role in the economy and are subject to the same tax laws and regulations as larger businesses. However, the government has put in place various measures to ease the tax burden on small businesses, including a simplified tax regime, turnover tax, tax exemptions, tax incentives, and tax education and awareness programs. These measures are aimed at supporting the growth and development of small businesses and improving their tax compliance.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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Kenya’s Taxation of Small Businesses
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