KRA Issues Ultimatum for Landlords to Get Amnesty
By Martin Mwita
The taxman insists that landlords whose annual gross rental income is not more than Sh10 million will only qualify for an amnesty proposed in the Finance Bill 2015 if they fully remit levies due for last year and this year by June next year.
In the Bill, tabled before the National Assembly in June, the Kenya Revenue Authority has been barred from assessing or recovering taxes, penalties or interest accrued by the landlords up to Sh10 million annual for the financial years up to 2013.
This comes as the agency targets to increase tax compliance levels among growing individual landlords.