Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Rents likely to rise as landlords pay 1.5pc on gross sales for affordable housing
President William Ruto interacts with Vicky Chepkorir a casual worker during the inspection of the ongoing construction of the 220 affordable housing units in Bomet County.
Small businesses and landlords have started feeling the weight of the affordable housing levy after the Kenya Revenue Authority (KRA) clarified they will pay 1.5 percent of gross sales, raising the risk of higher rents and product prices.
In an advisory, the KRA clarified that landlords will pay 1.5 percent of rent received and not net of incomes after deducting expenses like mortgage and property management fees.
