The tax industry is very dynamic, with many players. Every industry has players. However, there are two main types of players. The tax industry has principals and agents.
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Tax Players
The two players in the tax industry are:
- The tax principals
- The taxpayers
The Tax Principals
There are two principles in the tax industry. These are:
- The government receives tax money from the taxpayers.
- The taxpayers give tax money to the government.
The principals have their agents.
The Agents
Each principal has their agents. The government has the Kenya Revenue Authority (KRA) as its agent for tax purposes. Taxpayers 3 tax agents have two agents, namely:
- Taxpayers as their agents.
- Tax agents appointed by the taxpayer, e.g., auditors, consultants, lawyers, etc.
- Tax agents appointed by KRA, e.g., lawyers, individuals, accountants, etc.
The Video
What role does each player play?
