Monthly Rental Income Declaration
Price: KES 2,350
This is a tax payable by a resident person at 7.5% per month, on the gross rental income charged in Kenya for the use or occupation of residential property which is more than Kshs. 288,000 but does not exceed Kshs. 15M during any year of income. It is a final tax and is due on or before 20th of the following month.
MRI is not applicable on;
- Rent on commercial property,
- Non-resident landlords,
- Landlords who earn more than KShs.15M per year
It is a final tax and is due on or before the 20th of the following month.
Late filing of MRI returns attracts a penalty of 2,000 or 5% of the tax due whichever is higher, for individuals, and 20,000 or 5%, whichever is higher for non-individuals.
In addition, a late payment penalty of 5% and interest of 1% per month on the unpaid is charged for late payment.
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