Sunday, June 17, 2012

Kenyans to brace for hiked rents


Kenyans to brace for hiked rents


Written By:Lilian Mwendo,    Posted: Sat, Jun 16, 2012
Housing Assistant Minister Margaret Wanjiru says tenants will bear the burden of the income tax from landlords
Housing Assistant minister Bishop Margaret Wanjiru is raising the red flag over Finance Minister Njeru Githae's proposal to tax landlords.
Wanjiru says Kenyans are headed to increased rents as landlords are expected to place the tax burden on tenants.
The assistant minister is now proposing a policy to cushion tenants from the anticipated increase in house rents by errant landlords. She wants parliament to debate on the issue as a matter of urgency before the proposal is implemented.
According to the Budget tabled in Parliament on Thursday, the tax man is currently mapping out all residential and commercial areas in Kenya with a view of coming up with a comprehensive strategy that will ensure all landlords pay income tax including stiff penalties for serial defaulters.
In mapping out the tenants, KRA said it is in the process of preparing a register of all properties in major towns, an exercise that started mid-last year and is believed to be almost complete.

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