STEP GUIDE ON AFFORDABLE HOUSING VAT INCENTIVE

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STEP GUIDE ON AFFORDABLE HOUSING VAT INCENTIVE

STEP GUIDE ON AFFORDABLE HOUSING VAT INCENTIVE envitech（https://www.kpda.or.ke/author/envitech） 2024-10-23T00:33:50+03:00

Navigating the Affordable Housing VAT Incentive Application Process :A Step-by-Step Guide

By Yitzhak Rabin Juma, programs officer / Affordable Housing VAT Application Specialist

The Affordable Housing VAT Incentive is an initiative championed by the Kenya Property Developers Association with the support of its partners, FSD Kenya, and the State Department of Housing and Urban Development. The main aim of this program is to involve developers in the affordable housing program as strategic partners by supporting them in streamlining project costs, saving money, constructing more houses, and assisting the government in meeting its housing demand.

Who is eligible:

To qualify for the VAT incentive, developers must meet specific criteria set by the State Department of Housing and Urban Development through the Development Framework Guideline. This includes registration as a strategic partner, adherence to specific building standards, and a focus on housing projects that meet affordability thresholds.

Key information required:

Company profile e.g. Certificate of incorporation, Details of directors, financial summary/audited accounts, KRA Pin

Project Profile e.g. Name of Project, Location, Scope of work, Project Team and Stakeholders, Project Timeline, Budget and Funding, Architectural designs, Building Specifications, Permits, and Approval

Land Diligence e.g. Title Deed, Lease agreements, Title search report

Development Design e.g. Architectural design, visual renders, Structural design, Floor plans, Approvals, Healthy and Safety Plans, Construction Timeline, and Phasing Plan

Financing e.g. Funding sources, financial documentation (statements or proof of debt)

Step-by-Step Application Process

Step 1 Understand the VAT incentive program and its benefits: Developers can schedule a meeting to discuss the eligibility criteria, the application process and the specific project requirements.