Running payroll in Kenya? The recently published Finance Bill 2024 proposed several changes affecting employee allowances, deductions, and tax benefits. These amendments would have come into effect on July 1st, 2024.
However, on June 26, 2024, Kenya’s President Ruto announced his refusal to assent to the Finance Bill 2024, leading to its withdrawal due to public pressure. The bill will now be sent back to the National Assembly with a recommendation for the deletion of all its clauses. This decision follows several days of violent protests in Kenya. We will continue to monitor developments and keep you updated as necessary.
These changes can impact your payroll processes. PaySpace, a leading provider of statutory compliant payroll solutions in Kenya, can help you navigate these updates and ensure your payroll remains compliant.
Contact PaySpace today to learn more!
