Uhuru signs law on tax relief for low-cost housing beneficiaries

President Uhuru Kenyatta at a past function. [File, Standard]

President Uhuru Kenyatta yesterday signed into law a Bill creating a 15 per cent tax relief for Kenyans buying houses under the Affordable Housing Scheme.

The President signed an amendment to the Income Tax Act to create a new section that establishes an Affordable Housing Relief set at 15 per cent of the gross emoluments. The tax relief is, however, not supposed to exceed Sh108,000 per annum as set out in the Act.