The Kenya Revenue Authority (KRA) has introduced important amendments to PAYE computation under the Tax Laws (Amendment) Act, 2024, effective December 27. These changes aim to streamline tax compliance and reduce the tax burden for employees. Here’s a breakdown of the key updates:
The following contributions are...
The Kenya Revenue Authority (KRA) has introduced important amendments to PAYE computation under the Tax Laws (Amendment) Act, 2024, effective December 27. These changes aim to streamline tax compliance and reduce the tax burden for employees. Here’s a breakdown of the key updates:
The following contributions are...
The recent enactment of the Tax Laws (Amendment) Act has brought significant changes to how contributions to the Affordable Housing Levy and post-retirement medical funds are treated. Moving forward, these contributions will now be deductible from payable tax liabilities, a move aimed at mitigating double taxation. This...
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The recent enactment of the Tax Laws (Amendment) Act has brought significant changes to how contributions to the Affordable Housing Levy and post-retirement medical funds are treated. Moving forward, these contributions will now be deductible from payable tax liabilities, a move aimed at mitigating double taxation. This...
An Employer of Record (EOR) is a third-party organization that legally employs workers on behalf of another company. While the client company maintains control over the employee’s daily tasks and work, the EOR handles all legal and administrative aspects of employment. This includes payroll processing, tax compliance,...
An Employer of Record (EOR) is a third-party organization that legally employs workers on behalf of another company. While the client company maintains control over the employee’s daily tasks and work, the EOR handles all legal and administrative aspects of employment. This includes payroll processing, tax compliance,...
President William Ruto recently assented to a series of legislative amendments aimed at reshaping Kenya’s tax, business, and revenue frameworks. These changes are intended to stimulate economic growth, protect local industries, enhance revenue collection, and support the financial well-being of citizens and businesses alike.
1. The Tax Laws...
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Kenyans are feeling the pinch as new statutory deductions bite into their earnings, leaving many with significantly reduced disposable incomes. The introduction of the 2.75% Social Health Insurance Fund (SHIF) deduction on gross salary, coupled with a 1.5% housing levy, has caused a ripple effect across households and the economy.
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Kenyans are feeling the pinch as new statutory deductions bite into their earnings, leaving many with significantly reduced disposable incomes. The introduction of the 2.75% Social Health Insurance Fund (SHIF) deduction on gross salary, coupled with a 1.5% housing levy, has caused a ripple effect across households and the economy.
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The number of women earning over Ksh.100,000 monthly has risen significantly, showcasing notable strides in gender parity within Kenya's workforce. Data from the Kenya National Bureau of Statistics (KNBS) indicates a 92% surge in female high earners, increasing from 125,579 in 2022 to 139,847 in 2023.
In comparison, male workers...
