Wanda has recently returned from California University

| September 12, 2018

Wanda has recently returned from California University after studying for a PhD. For three years. While in the USA she operated a large business and saved a substantial sum of money. She is undecided whether to accepted an offer of full-time employment from the University of Nairobi as an Associate Professor or to set up a business consultancy firm near her home where she would use her home as the base for her business.You have advised her that the rules governing the deductibility of expenses for employees differ from the rules for self-employed persons. Wanda has now asked for a report summarizing the position. She is also concerned about the tax position of the income she earned in USA now that she has come with it to Kenya.Required:Prepare the report for Wanda including decided cases and practical situations to illustrate the relevant rules and conditions.Your report should firstly cover the basic rules governing the taxation of foreign income, the deductibility of expenditure, and then apply these rules to traveling expenses both within Kenya and outside Kenya subscriptions food and clothing.Note:Candidates will not be penalized if they cannot remember the names of decided cases. (10 marks)(b) In Kenya, the custom and excise duties are imposed in accordance with the provisions of Customs and Excise Act (Cap 472). With reference to this Act, explain the following:(i) Customs clean report of finding and its importance. (3 marks)(ii) Specific measures under the Customs and Excise Act designed to prevent dumping in Kenya. (2 marks)(iii) The circumstances under which the Commissioner of Customs and Excise may remit excise duty on certain goods. (5 marks) (Total: 20 marks)

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