Monday, May 17, 2021 – President Uhuru Kenyatta’s Government has announced plans to apply pressure on rich Kenyans as part of a guarantee to recover the International Monetary Fund (IMF) loan.
According to reports, the National Treasury is preparing to institute travel bans and deregister the Personal Identification Numbers (PINs) of tax cheats.
The report further indicated that Kenya Revenue Authority (KRA) had earmarked a number of individuals who are said to owe the government as much as Ksh260 billion in taxes.
Among individuals in the target bracket are doctors, real estate investors, and lawyers who are self-employed.
In a letter from the Treasury, business and property owners were also listed as the top target in KRA’s new plan to raise revenue for the new financial year 2021/22.
It is estimated that 50% of the money is expected to be channeled towards the development budget.
The crackdown will get in full force in July 2021.
The development comes after Kenyans expressed uproar against the IMF for approving a Ksh257 billion loan facility for the country despite high corruption levels.
The loan will be given in phases over three years and reviews will also be conducted to ensure compliance.
As part of the guarantee to repay the loan in time, the National Treasury committed to increase taxes and reduce its wage bill.
The state also increased the taxes in order to receive the loan.
E! News Blog
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