Monthly Archives: January 2020

RESIDENTIAL RENTAL INCOME The following key pointers are important for you to ensure you comply with the MRI regulations from the onset and avoid the penalties and interest that come with non-compliance. 1. MRI is a tax payable by resident persons on residential rental income received. It is payable by property owners whose residential rentContinue reading “TAX UPDATE 02/2020 ACE Group of Companies”

https://www.tuck.com/sleep-and-financial-health/ Quick Overview Are you struggling to save up for retirement, pay off student loan debt, or simply stay on top of your monthly rent? You’re not alone. When it comes to worries that keep us up at night, financial woes consistently rank at the top. Stress of any kind is one of the leading contributorsContinue reading “Does Sleep Affect Your Financial Health? Last updated October 11, 2019”

Source: https://www.tuck.com When it comes to success, we all know the stereotype: the successful don’t sleep. Whether it’s a tech CEO leading a risky new startup or a famous author working on her latest best-seller, everyone believes that earning more means working more, and working more inevitably means sleeping less. It’s a trade-off most ofContinue reading “Money Never Sleeps – Who Sleeps and Earns the Most”

TURNOVER TAX (TOT) The turnover tax was re-introduced in the Finance Act 2019 effective 1st January 2020 with similar regulations previously applied. Notable changes are; Monthly submission of the TOT returns by 20th of the following month. Presumptive tax is still applicable in addition to the TOT Presumptive tax can be claimed as a creditContinue reading “Ace Group – Tax Alert 1/2020”

On Saturday 1st June 2019, the Central Bank of Kenya announced that it shall be issuing new generation notes, and specifically for the Kshs 1,000 note currently in circulation would cease to be legal tender from 1st October 2019.  See links below Click to access New-Generation-Banknotes-Pamphlet.pdf Click to access 1727542341_Governor’s%20Remarks%20-%20Launch%20of%20the%20New%20Generation%20Banknotes.pdf (CBK – Governors full speech)Continue reading “Kenya: Anti Money Laundering Laws and Regulations”