For a worker earning Sh30,000 monthly, the World Bank’s proposed exemption would increase net pay by Sh956.25, bringing take-home earnings to Sh27,150 from the current Sh26,193.75.
Under Section 42 of the Tax Procedures Act, KRA has the authority to deactivate tax PINs, impose travel bans, and seize funds from defaulters’ bank accounts. These measures will now be applied to enforce compliance with the housing levy.
Parliament is investigating the allocation of Sh20 billion housing levy funds to Treasury Bills. The State Department of Housing has been channeling billions of shillings meant for affordable house construction towards Treasury bills, short-term government securities issued by the National Treasury. These debt instruments are used by the government to raise funds for a short […]
