December 18, 2019
Kenyan employers requested by Higher Education Loans Board to register on its online portal by 31 December 2019
The Kenyan Higher Education Loans Board (HELB) provides financing through loans, scholarships and bursaries to Kenyans pursuing higher education within and outside Kenya. HELB has recently issued a communique to employers requesting them to register and update their details on its online portal by 31 December 2019.
This is will enable employers to file monthly returns, generate payment slips, and access details of HELB beneficiaries, among other services.
Employers are required to notify HELB whenever they recruit a beneficiary of HELB loans. They are then required to deduct and remit loan repayments monthly. These processes have been manual, and employers were required to physically or via e-mail submit the returns and proof of payments to HELB.
In an effort to provide an efficient way for employers to file monthly returns, HELB has revamped its website by adding an employers’ portal through which returns will be submitted and payment slips generated for onward payment through selected bank accounts.
Employers are required to register on this online portal by 31 December 2019. Manual submissions will no longer be accepted by HELB after this date.
In summary, the portal will enable employers to;
Employers should register on the online portal via HELB’s website and update their details accordingly by the deadline of 31 December.
For additional information with respect to this Alert, please contact the following:
Ernst & Young (Kenya), Nairobi
Ernst & Young Advisory Services (Pty) Ltd., Africa ITTS Leader, Johannesburg
Ernst & Young LLP (United Kingdom), Pan African Tax Desk, London
Ernst & Young LLP (United States), Pan African Tax Desk, New York