President William Ruto has been warned about what will happen if he enforces the rule that requires landlords to pay taxes 24 hours after receiving the tenant's rent.
Contained in the Finance Bill 2023, the new legislation will force landlords who collect rent from tenants to remit the tax deductions 24 hours after they have collected the rent from their tenants.
While reacting to the new legislation, political blogger Karen Wanjiku, who termed the move a scare tactic that sought to ease the alleged retaliation against the new three percent affordable housing bill (contained in the same finance bill 2023), went ahead to reveal what may allegedly happen if President William Ruto enforces the new legislation on landlords.
According to Karen, below are five of the possible outcomes of enforcing tax payment reforms on tenants: "Option 1: Landlords get to extend the 5th monthly rent remittal deadline to allow almost all tenants to pay up for ease of tax return calculations and filing. Option 2: Landlords will become more vicious and strict with rent payments. Option 3: Landlords will hike rent so as to cover increased taxes and penalties. "
Lastly, options 4 and 5 suggest that landlords will join the protest, which will be led by either trade unionists or the Azimio team, or that the landlords will lower the rent so as to ensure timely payment of rent by tenants, thus facilitating the easier running of business and also the possibility of fully booked rentals.
According to the above possible outcomes, it seems that Karen Wanjiku suggests that the new legislation on landlords will have either positive or negative outcomes for both tenants, landlords, and the government.
Content created and supplied by: Daily254News (via Opera News )
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