Property agents to remit taxes within 24 hours

treasury

The National Treasury building in Nairobi. FILE PHOTO | NMG

Property agents will now be required to deduct and remit rental income tax within 24 hours after receiving the payment from tenants.

This is one of the proposals in the Finance Bill, 2023 which introduces the withholding tax rental income collected by agents appointed by the Kenya Revenue Authority (KRA) commissioner in charge of domestic taxes.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.