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Housing levy: Workers now risk losing their cash in revised tax plan
Police officers arresting protestors outside Parliament Buildings in Nairobi on June 13, 2023, during the tabling of the Finance Bill 2023 in Parliament.
Photo credit: File
Workers may lose their money in the controversial Housing Fund if Parliament approves a fresh proposal to scrap a clause requiring the State to offer refunds to contributors who miss out on affordable homes after seven years.
The National Assembly Finance and Planning Committee has recommended an amendment in the Finance Bill, 2023 to convert the housing fund into a levy, which effectively means that the money will not be refunded after it is collected.
