HomeBusinessRuto's administration targets landlords to finance the 2023–24 budget.

    Ruto’s administration targets landlords to finance the 2023–24 budget.

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    In an effort to bring in more revenue for the financing of the budget for the fiscal year 2023–2024, the government has introduced proposals to register landlords in Nairobi County.

    Real estate has been singled out by President William Ruto’s government as a potential source of revenue expansion.

    On Wednesday, October 18th will begin the registration process.

    Landlords approached by the exercise were requested to provide all appropriate papers.

    In order to verify the identity of the tax officials conducting the exercise, participants may dial the USSD number *572#.

    10% of the entire rent collected from renters is considered “rental income tax” and must be paid by landlords in accordance with government laws.

    Rigathi Gachagua, the current administration’s deputy president, recently said that the government was exploring other revenue streams to avoid raising product taxes.

    We intend to collect roughly Ksh3 trillion by the end of the year to support our current and development budget, so the president and I met with the taxman for seven hours, and we parted at midnight to agree on how we’ll do that.

    Gachagua remarked.

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