Kenya -Tax Changes

The following tax change was made in Kenya regarding the Home Ownership Savings Plan (Hosp).

 

An individual is entitled to deduction on funds deposited under a registered Home Ownership Savings Plan (Hosp), subject to a maximum of KShs 8 000 per month or   KShs 96 000 per year.

 

Previously the deduction was KShs 4 000.

 

This tax file has already been deployed prior to this release, however, we are mentioning this change here so that it is documented.