Finance Act, 2023. The President signed into law the Finance Act, 2023 (Act) on 26 June 2023. The Act was subsequently gazetted on 27 June 2023. While a majority of the changes will take effect from 1 July 2023, a few others will take effect on 1 September 2023 and 1 January 2024. The Finance …
Kenya Revenue Authority (KRA) provided a clarification on what constitutes Gross pay for purposes of computing the Housing levy The levy is deductible from employees at 1.5% of the gross pay with the employer contributing a similar amount as follows; One point five per centum (1.5%) of the employee’s gross monthly salary by the employee; …
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