The Affordable Housing Act, 2024

Tax Alert: The Affordable Housing Act, 2024

insight featured image

Click to subscribe

Sign up to our mailing list to get updates on tax, accounting, the economy, business and trade in Kenya and internationally.

The Affordable Housing Levy has been revived after the Affordable Housing Bill, 2024 received presidential assent on the 19th of March. The Act now creates a new legal framework that has been designed to address the constitutional concerns that were raised in the High Court case of Okiya Omtatah and six others v the Cabinet Secretary for the National Treasury and Planning and 3 others (Petition No. E181 of 2023).

The validity of the Act has already been contested at the High Court, but as of now, there has been no suspension of its implementation which is expected to commence through the March payroll to be submitted for filing and payment of deductions by the 9th of April 2024.

In our alert we highlight some of the key provisions of the new Act. Click on the button below for more insights.