Sharp Daily
No Result
View All Result
Friday, August 7, 2026
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

KRA clarifies tax implications for Social Health Insurance Fund

Huldah Matara by Huldah Matara
November 8, 2024
in News
Reading Time: 1 min read

The Kenya Revenue Authority (KRA) has issued a public notice clarifying that contributions made to the Social Health Insurance Fund (SHIF) are not currently eligible for tax relief, a significant update for taxpayers adapting to the new healthcare system. The KRA statement underscores that relief provided under the Income Tax Act “does not apply to contributions made to the SHIF under the Social Health Insurance Act.”

This development follows the recent repeal of the National Health Insurance Fund (NHIF) under the Social Health Insurance Act, which restructured Kenya’s health insurance landscape. The KRA outlined that “the Income Tax Act provides for insurance relief for a health policy whose term commences on or after the 1st January, 2007 or a contribution made to the National Health Insurance Fund (NHIF),” but this relief does not extend to the newly established SHIF.

To address this gap, the Tax Laws (Amendment) Bill, 2024, proposes an amendment to the current legislation. If passed, it would allow SHIF contributions to be deducted from taxable income, bringing SHIF’s tax treatment in line with what NHIF contributors previously experienced. This pending amendment reflects the government’s intention to align the tax structure with the healthcare reforms, though the KRA has yet to specify a timeline for any potential tax relief.

In the meantime, the KRA encourages those seeking more information on the tax implications of SHIF contributions to contact its customer support: “For further information, please reach out to our Contact Centre on Tel: 020 4 999 999, 0711 099 999 or Email: callcentre@kra.go.ke.”

RELATEDPOSTS

Kenya bets on blockchain to clear its cargo backlog

August 3, 2026
KRA

Kenya rolls out digital Advance Cargo Declaration system from August 2026

July 15, 2026

 

Previous Post

Exploring the benefits of investing in REITs for Kenyan portfolios

Next Post

Kenyan troops in DRC earn UN praise for operational excellence

Huldah Matara

Huldah Matara

Versatile multimedia journalist with a keen interest in compelling stories that resonate with my audience. Reach out on huldahmatara12@gmail.com

Related Posts

News

Infrastructure Finance Growth Drives Regional Bank Expansion

August 7, 2026
News

Central Banks Shift to Stablecoin Prudential Integration

August 7, 2026
News

High Court Challenges Mobile Money Regulation

August 7, 2026
News

US and UK Deepen Stablecoin Regulatory Standards

August 7, 2026
News

Tourism Recovery In Driving Kenya’s Economic Growth and Investment

August 7, 2026
News

How Artificial Intelligence Is Transforming Employment and Economic Growth in Africa

August 7, 2026

LATEST STORIES

Infrastructure Finance Growth Drives Regional Bank Expansion

August 7, 2026

Central Banks Shift to Stablecoin Prudential Integration

August 7, 2026

High Court Challenges Mobile Money Regulation

August 7, 2026

US and UK Deepen Stablecoin Regulatory Standards

August 7, 2026

Tourism Recovery In Driving Kenya’s Economic Growth and Investment

August 7, 2026

How Artificial Intelligence Is Transforming Employment and Economic Growth in Africa

August 7, 2026

The Rising Role of the Chinese Yuan in Africa’s Financial System

August 7, 2026

What happens to your pension when you change jobs

August 7, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024