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Global Payment and Compliance
In accordance with the amendment of the Finance Act, 2021 Section 31(1) of the Income Tax Act
In accordance with the amendment of the Finance Act, 2021 Section 31(1) of the Income Tax Act (ITA), Cap 470 , members of the public are now eligible for Insurance Relief that includes contributions to NHIF.
The amount of Insurance Relief shall be fifteen percent of the amount of premiums paid but shall not exceed sixty thousand shillings per annum. Contributions to NHIF will therefore be eligible in the computation of Insurance Relief as follows: -
Insurance Relief = 15% (Insurance Premiums + NHIF Contributions) but shall not exceed Kshs. 5,000.00 per month or Kshs. 60,000.00 per year. The effective date of this amendment was 1st January 2022.
We have already incorporated these changes into our Workpay payroll and PAYE calculators.
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Workpay is a HR and Payroll software company that offers time & attendance, payroll, human resource, leave, expenses and remote teams solutions to businesses across Africa.
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