Rent increase fears as landlords targeted for taxes
15 June 2012, 12:06
Nairobi - Following Finance Minister Njeru Githae's directive to Kenya Revenue Authority (KRA) to map residential areas to ensure all landlords pay taxes in this year's budget speech, rents are likely to go up, Capital News reports.
Unveiling the 2012-2013 budget statement under the theme: ‘Deepening Economic and Social Prosperity within a System of Devolved Government,’ Githae said in a bid to safeguard the revenue base and ensure equity, KRA will institute an effective excise tax management system to ensure that all products produced by licensed manufacturer are fully accounted for by type and quantity.
Githae added that the first phase of this system shall be fully operational in the course of the fiscal year.
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