What are the benefits of implementing an ERM in your organization?
The Journal of Risk and Insurance has revealed that businesses with established Enterprise risk management procedures have a 25% chance of increasing their business value.
ERM Standards
Enterprise Risk Management (ERM) standards are prescriptions that provide organizations a structure for controlling risks. Organizations may identify, evaluate, and manage risks that could have an impact on their operations, financial performance, and reputation.
What is installment tax?
This is a form of tax that is paid by an individual or non-individual tax payer that is not fully covered under PAYE and is remitted periodically. It is paid by a tax payer whose annual tax liability is estimated to exceed Kes. 40,000.
Statutory Deductions
A statutory deduction is a mandatory deduction that an employer takes out of an employees’ salary. This is mandatory in Kenya, and as an employer you are required to remit the calculated amount to the relevant authority.
Did you know that for every Ksh.100 staked, KRA takes away Ksh.7.5?
In an effort by the government to tame rogue entities, betting firms will now be required to make real-time remittances to KRA. This is after a pilot project to link the tax system with the betting sector was successfully implemented by KRA.
IMPACT OF THE NEW NSSF RATES 2023
The NSSF Act 2013 whose enactment was done in 2013 was to come into effect in 2014, however, its implementation faced a massive opposition from labor unions who sort the advisory of the court to bar its implementation.