Important Information: Update on Affordable Housing Levy Relief Reporting
Following the recently accented Affordable Housing Bill and the amendments on the Affordable Housing Levy Relief, we have updated the housing levy computation accordingly on the Workpay system.
Overview of Changes:
The Affordable Housing Levy Relief, as stipulated in the legislative amendments, constitutes 15% of the employee's contribution but shall not exceed KES 108,000 per annum (KES 9,000 per month).
Areas of Impact:
These changes affect two primary areas:
1. Payroll Computation: We've successfully updated our payroll systems to automatically calculate and apply the Affordable Housing Levy Relief for all companies that processed their March payroll.
2. Reporting Requirements: Updating the PAYE report to align with the new legislative requirements is crucial. However, this aspect is still pending as we await the updated P10 report from the Kenya Revenue Authority (KRA). We anticipate the updated P10 report to be available by the end of tomorrow Friday, 5th April 2024.
We understand the urgency of finalizing your reporting obligations and we are actively working to assist you in completing your March report promptly.
Please note that our ability to complete this process is dependent on the updated P10 report from KRA. They have committed to releasing the updated P10 report by the end of Friday, 5th April 2024. We will keep you informed of any developments.
We kindly request your patience as we work to close this item before the 8th of April. Your cooperation and understanding are greatly appreciated as we navigate through this process together.
Should you have any questions or require further assistance, please do not hesitate to contact us. We are here to support you every step of the way.
Thank you for your continued support and trust in Workpay.