The National Social Security Fund (NSSF) is betting on a single filing system with Kenya Revenue Authority (KRA) for employee statutory deductions to stop employers not remitting pension savings.
The taxman is working on a unified return portal for pay as you earn (PAYE) and other payslip deductions like NSSF, National Hospital Insurance Fund and Higher Education Loans Board.
The four statutory remissions are currently filed separately, making it possible for employers to evade remitting deductions such as the Sh400 monthly NSSF contributions.
NSSF managing trustee Anthony Omerikwa says a single portal will increase transparency, making it possible to know employers who are remitting deductions such as PAYE but leaving out pension.
Employers had failed to remit Sh5.6 billion to the NSSF as at June 2018, putting at risk the benefits of thousands of workers who retire.
“The portal will allow all the four institutions to see statutory payments coming from a particular employer. When we see a gap, it will be easier to follow. This will solve the problem of non-remittances,” said Mr Omerikwa in an interview.
The KRA’s online system of filing returns, i-Tax, captures returns of individual taxpayers, making it hard to match employees with their respective companies on a real-time basis.
This news was Culled from Business Daily. Click here to view more.
