Accountancy in Kenya

>> Miscellaneous

There are other matters that do not exactly fall under taxation or business registration but are relevant to a person doing business in Kenya. These are discussed below;

County government levies

Kenya uses a devolved system of Government with some functions and powers being vested in the County Governments. For this reason, every County has its own revenue collection mechanisms, and these include charging rates and rent on property, charging for permits and licenses, costs for advertising among other levies.

General Employment Matters

Health Insurance

It is mandatory for every employer to remit funds to the National Hospital Insurance Fund (NHIF) on behalf of employees. All persons with an income of more than one thousand shillings should be registered with NHIF.

The employer has an obligation to remit the amounts to NHIF on or before the 9th date of the subsequent month. The penalty for later payment is 5 times the amount that should have been remitted. The NHIF rates are on a graduated scale.

Social security

The Government’s National Social Security Fund (NSSF) is a fund to which all employers must remit retirement contributions for employees. The deadline for remittance is 15th of the month following. Late payment of NSSF contributions expose the employer to a penalty of 5% of the due amount.

National industrial training authority (NITA)

Every employer is under an obligation to contribute fifty shillings (Kshs. 50) per employee to the national authority tasked with industrial training.

Work injury benefits insurance

Every employer is under an obligation to take up an insurance cover over employees against work-related injuries.

Land ownership in Kenya

Citizens can own land either as freehold or leasehold. Non-citizens may hold land for a leasehold period not exceeding 99 years. A company is regarded as a citizen if it is owned entirely by Kenyan citizens.

The Government has digitized transactions concerning land to enable online transactions through the Government’s eCitizen platform.


Latest version updated 11th April 2019

Country Breakdown

51.9

Million

Population

KSh

Kenyan shilling

Currency

$ 76.32

Billion

GDP

582,644

km2