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John Daniel & Partners LLP, Certified Public Accountants Auditing . Accounting. Tax. Advisory

A recent Tax Appeals Tribunal decision in Equator Bottlers Ltd v. Commissioner of Domestic Taxes (TAT Appeal No. E158 of...
30/09/2026

A recent Tax Appeals Tribunal decision in Equator Bottlers Ltd v. Commissioner of Domestic Taxes (TAT Appeal No. E158 of 2026), provides an important clarification on excise duty relief.
The Tribunal held that plastic bottle preforms used in the manufacture of bottles qualify as raw materials under Section 14(1) of the Excise Duty Act. As a result, the excise duty paid on the preforms could be offset against the excise duty payable on the finished beverages.
Tax impact
• Prevents hidden double taxation on essential manufacturing inputs.
• Preserves cash flow by allowing eligible excise duty offsets.
• Provides greater certainty for manufacturers with integrated production processes.
• Reinforces that established court precedent can be relied on when challenging similar tax assessments.
For manufacturers, this ruling clarifies that where packaging is an essential part of the excisable product, the components used to create that packaging may qualify for excise duty relief.

Your tax return is no longer viewed in isolation. Tax authorities can compare information from eTIMS, withholding tax, C...
28/09/2026

Your tax return is no longer viewed in isolation. Tax authorities can compare information from eTIMS, withholding tax, Customs, VAT returns and accounting records.
A mismatch does not automatically mean non-compliance. It could result from timing differences, credit notes, exemptions, incorrect entries or missing documentation.
The key question is: If KRA reconstructed your business using the data it already has, would it match the tax position you reported?
What businesses should check key reconciliation;
• Sales ledger vs. eTIMS sales
• Purchases ledger vs. eTIMS purchases
• Income tax return vs. accounting records
• VAT returns vs. sales and purchases ledger
• Withholding tax certificates vs. withholding tax ledger
• Imports vs. Customs and inventory records
• Bank transactions vs. the general ledger
Good tax compliance is not just filing returns. It is being able to explain and support the numbers across the entire data trail.

A KRA compliance check is easier to manage when your financial and tax records are accurate, complete and properly suppo...
28/09/2026

A KRA compliance check is easier to manage when your financial and tax records are accurate, complete and properly supported.
Before a compliance check, businesses should:
• Reconcile bank statements to the accounting records.
• Verify that VAT, PAYE and other tax returns agree with the books.
• Organize invoices, receipts and supporting documentation.
• Confirm that statutory tax obligations were paid on time.
·Address any discrepancies before KRA raises them.
Good record-keeping is your first line of defense. Preparation helps reduce delays, penalties, and unnecessary queries during a compliance review.

For many businesses, record keeping is viewed as an accounting task, while in reality, it serves as a crucial tool for m...
23/09/2026

For many businesses, record keeping is viewed as an accounting task, while in reality, it serves as a crucial tool for managing tax risk and supporting business decisions. Accurate, well-organized records help businesses support their tax declarations, identify errors early and maintain a clear view of their financial position.
Poor record keeping can increase tax risk in several ways:
✅Incorrect tax calculations: Missing or inaccurate records may result in underpayment or over payment of taxes.
✅Understated or overstated income: Failure to properly record all sales and other income can lead to discrepancies in tax returns.
✅Unsupported expenses :Expenses without proper invoices, receipts or other supporting documents may be difficult to substantiate when determining taxable income.
✅VAT discrepancies: Poorly maintained sales and purchase records can result in incorrect VAT declarations and difficulties reconciling input and output VAT.
✅Penalties and interest: Errors, late corrections, or unpaid taxes arising from poor records may expose a business to additional penalties and interest.
✅Tax audit challenges: When records are disorganized or unavailable, it becomes harder to explain and support transactions during a tax review or audit.
✅Poor business decision-making: Inaccurate financial records can also make it difficult for management to understand the true financial position of the business.
Overall, good record keeping helps businesses stay compliant, support their tax declarations, identify errors early, and make informed financial decisions

A financially healthy business isn't defined by profit alone. It's one that can withstand challenges, adapt to change, a...
21/09/2026

A financially healthy business isn't defined by profit alone. It's one that can withstand challenges, adapt to change, and grow sustainably by getting the fundamentals right.
✅Cash Flow & Liquidity: Having enough cash to meet obligations, cover day-to-day operations, and maintain a buffer for unexpected expenses.
✅Profitability & Efficiency: Earning sustainable returns while making the most of every dollar, asset, and inventory investment.
✅Debt Management & Financial Discipline: Keeping debt at manageable levels and maintaining accurate, disciplined financial records.
✅Revenue Stability & Risk Protection: Building diverse revenue streams and reducing exposure to unexpected market disruptions.
Profit measures performance. Cash flow measures resilience. Financial discipline creates sustainable growth

A profitable business isn't always the one making the most sales it's often the one pricing strategically.Setting the ri...
16/09/2026

A profitable business isn't always the one making the most sales it's often the one pricing strategically.
Setting the right price isn't just about reimbursing your expenses or copying rival rates. It centers on finding the sweet spot where operational expenses, customer-perceived value, market demand, and your target profit margins intersect to fuel long-term business growth.
A strong pricing strategy should balance four factors:
· Cover all direct and indirect costs.
· Reflect the value customers perceive.
· Align with what your target market is willing to pay.
· Leave enough margin to support growth.
The goal is to charge a price that customers are willing to pay while keeping the business profitable.

A KRA tax audit can expose businesses to unexpected tax liabilities, penalties and interest.But how prepared is your bus...
14/09/2026

A KRA tax audit can expose businesses to unexpected tax liabilities, penalties and interest.

But how prepared is your business?
Join John Daniel & Partners LLP for a practical FREE webinar covering:

✅ Understanding the KRA tax audit process
✅ Common areas of tax exposure
✅ How businesses can prepare and protect themselves

📅 Wednesday, 30 September 2026
⏰ 10:00 AM – 11:30 AM
💻 Online Webinar – Zoom
🎟️ Free Webinar – Register Now!

Don’t wait for an audit notice to start preparing. Know your tax position, identify potential risks, and be ready.

📲 Scan the QR code on the poster to register.
Or Regester here:https://us06web.zoom.us/meeting/register/pSdvmMCHSdijLJ7GOkgCuQ

The future of finance: automation vs human judgmentThe future of finance is not about choosing between technology and pe...
08/09/2026

The future of finance: automation vs human judgment
The future of finance is not about choosing between technology and people. It is about combining automation with professional judgment to deliver better decisions and greater value to clients. The future of finance is a hybrid model where automation handles speed and precision, while humans provide context and strategy.
✅Automation & AI: Drive efficiency by executing data-heavy tasks like algorithmic trading, fraud detection, risk modelling, and routine reporting faster and with fewer errors.
✅Human Judgment: Remains essential for high-stakes decision-making, navigating ethical grey areas, complex negotiations, regulatory compliance, and managing client relationships.
Overall, rather than replacing financial professionals, technology will favour those who effectively leverage automation over those who don’t.

VAT Exempt vs Zero-Rated: What's the difference?They both can result in no VAT being charged, but they are not the same....
07/09/2026

VAT Exempt vs Zero-Rated: What's the difference?
They both can result in no VAT being charged, but they are not the same.
✅Zero-rated (0% VAT): You charge VAT at 0% and can still claim input VAT on related business purchases.
✅VAT Exempt: You do not charge VAT, but you generally cannot claim input VAT on related costs.

IFRS 18 replaces IAS 1 and introduces a more consistent structure for presenting financial performance in the income sta...
02/09/2026

IFRS 18 replaces IAS 1 and introduces a more consistent structure for presenting financial performance in the income statement.
What’s changing?
✅ Three income statement categories: Operating, Investing and Financing.
✅ Mandatory subtotals, including operating profit.
✅ New disclosure requirements for Management-Defined Performance Measures (MPMs).
✅ Greater disaggregation of material expenses instead of broad categories such as “other expenses.”
✅ Impact: Companies may need to update their accounting systems, chart of accounts and reporting processes to support the new requirements.
✅ Effective: Annual periods beginning 1 January 2027, with early adoption permitted.

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