Kenya Revenue Authority's headquarters at Times Tower in Nairobi. Kenya
Revenue Authority (KRA) has started hiring agents to collect data on
buildings and their owners to establish if they are tax-compliant. PHOTO
| FILE | NATION MEDIA GROUP
NATION MEDIA GROUP
NAKURU MEADOWS PROJECT: Private equity firm
Phatisa is set to fund the construction of 140 residential houses in
Nakuru in a deal with real estate developer Tamarind Properties. The
houses, which will cost between Sh10.8 million and Sh13.5 million, will be located along the Nairobi—Nakuru highway at Lanet.
houses, which will cost between Sh10.8 million and Sh13.5 million, will be located along the Nairobi—Nakuru highway at Lanet.
The
10-acre project, dubbed Nakuru Meadows, will be done in two phases; the
first phase will contain 104 units and the second 36 units. It is
expected to take 24 months to build.
Phatisa
will fund the project through its Pan African Housing Fund. Nakuru’s
growing population has created a housing shortage in the town, pushing
up land, rent and buying prices for houses and in turn attracting real
estate developers eyeing the demand.
SH1 MILLION FINE: Owners
of some 2,450 commercial buildings could be thrown in jail or fined
heavily for failing to conduct energy audits on their premises.
The
defaulting landlords have been issued with letters and notifications by
the Energy Regulatory Commission (ERC) asking them to comply with the
deadline, which expired on September 28 this year. The Energy
(Management) Regulations 2012 stipulate that buildings which consume an
average 15,000 Kilowatt hours (kWh) per month or 180,000 kWh annually
ought to conduct consumption assessment.
ERC has said that so far, only 1,050 of 3,500 buildings have complied.
Those
who fail to comply risk a fine of up to Sh1 million, a one-year jail
term or both upon conviction by a court. The audits are designed for
facilities like malls, agricultural industries, cement factories,
universities, hospitals and big hotels as energy saving measures with
the aim of increasing production. The campaign aims to cut their energy
consumption by up to 50 per cent. The assessments cost about Sh100,000
and above, depending on the size of the premises.
Kempinski
cites pollution concerns in row with Avic over complex: Works on the
Sh9.6 billion Avic complex along Chiromo Road have been put on hold
following a complaint from the neighbouring Kempinski Hotel over
environmental concerns. Kempinski last week secured orders from the
National Environmental Tribunal stopping construction of the complex
until an appeal it has filed against Avic is heard and determined.
The
hotel says Avic has not explained how it plans to deal noise pollution,
storm water drainage and air quality issues during construction.
Avic,
a Chinese manufacturing giant, recently moved to start construction of
the complex, which includes a 35-floor hotel, barely 100 metres from
Kempinski.
The complex, which also
includes a 43-floor office block and four apartment towers, will double
up as Avic’s Africa headquarters. It also includes two apartment blocks
of 24 storeys, while another two will have 25 and 28 floors
respectively.
TAXMAN RECRUITS AGENTS TO IDENTIFY TAX-EVADING LANDLORDS: Kenya
Revenue Authority (KRA) has started hiring agents to collect data on
buildings and their owners to establish if they are tax-compliant. This
will see the Authority net landlords who have not been paying rental
income tax. KRA expects to rope in 20,000 building owners and collect no
less than Sh3 billion by June next year.
The
data collected is expected to build a database that KRA will use to
demand taxes from the landlords going forward even as it adds more
properties in coming years.
Those
hired will include independent agents, but KRA is also seeking to
recruit property management companies who normally collect rent on
behalf of landlords.
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