Filed under Taxation Revision Taxation of members’ clubs Published by on Provided ¾ or more of club income (i.e. entrance fees and subscriptions) comes from members, the club income will not be taxable. This excludes investment income such as dividends, interest and rent. They pay tax at corporate tax rate. Share with your friendsSharing is Caring Related Posts Taxation of companies operating in export processing zones Taxation November 2016 Past Paper - KNEC Diploma Taxation November 2018 Past Paper - KNEC Diploma Taxation November 2008 Past Paper - KNEC Diploma Taxation November 2014 Past Paper - KNEC Diploma What is the principle of cost sharing and to what extent does it influence the level of taxation? Taxable turnover Define the term capital allowances What is „set-off‟ tax? Write short notes on VAT tribunal Time limit to making tax assessments. Housing Benefit (HB) in Kenya What is meant by the term qualifying expenditure? Distinguish between a direct and indirect tax. What does the term employer include for PAYE purposes? What is instalment tax and when is it payable? Business plan Revision Questions Explain the reasons why, for a particular year of income, the total income received is usually different from total taxable income. Explain the tax position of the income of a deceased person Retailing and wholesaling - Principles of Marketing Marketing channels - Principles of Marketing What is Supply Chain Management? Explain the meaning of the following terms as appearing in the respective tax legislation: (a) Excise duty; (b) Local committee;(c) Designated primary society; (d) Bonded warehouse; (e) Taxable person; (f) Zero-rated;(g) Non-resident; (h) Exempt income; (i) Registered home ownership savings plan; (j) Commercial vehicle
