Tuesday, April 11, 2023 – Millions of Kenyans now have something to smile about after President William Ruto announced that some taxes will be reduced in the 2023-24 budget.
Speaking during the release of the performance contracting report held at Kenyatta International Convention Centre (KICC), the Head of State said some of the taxes are punitive and encourage more dodging than paying and non-compliance.
“I have instructed the National Treasury to look at all the taxes, and have a look at them for a review in the coming financial year,” he said.
It is not clear from what categories the taxes will be reduced, but the President stated that the taxes reduction will be from citizens, cooperates, and all the people that work in the government.
His statement comes a day after Kenya Revenue Authority announced that it collected up to Sh1.554 trillion as of the end of March 2023.
“As at the close of March 2023, revenue collection averaged 95.1 per cent on original target and 93.4 per cent on Supplementary target, representing a collection of Sh1.554 trillion,” KRA statement reads.
This means KRA collected 8 per cent more as compared to the last financial year.
-overlay.jpg)
-overlay.jpg)
0 Comments