Strict taxman removes shine from buy-to-let

A move by the Kenya Revenue Authority to tighten the noose on tax evaders in the real estate market has taken away the shine from buy-to-let properties. Analysts at real estate firm HassConsult say tax-compliance has eaten into rental yields, dealing a blow to the buy-to-let segment. The taxman has since July 2012 intensified efforts to net tax evaders who were not declaring taxes from rental income or sale of properties as required...