TurnOver Tax FAQs
Q. What is Turnover Tax(TOT)?
In accordance with Finance Act, 2019, the Turnover Tax became payable from 1st January 2020. Presumptive Tax is payable by small business owners whose annual turnover from business does not exceed KSh 5M.
Q. What is the rate for Turnover Tax (TOT)?
The rate of turnover tax shall be amount equal to 3% of gross monthly sales.