Kenya Revenue Authority has announced that they will start tracing landlords who are not fully transparent with information regarding the income that they receive from their rental properties.
According to Section 6A of the Income Tax Act CAP 470, any Kenyan receiving residential rental income amounting to KSh 12,000 and above per month and not exceeding KSh 10 million per year should register for the monthly rental income tax.
Commercial property owners who receive income above KSh 5 million per year have been notified to make full disclosure of rent received under the income tax return.
The KRA board chairman, Francis Muthaura expressed appreciation to compliant taxpayers for their contribution to national development during the Taxpayer’s day Celebrations.
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