Thursday, November 7, 2024 - President William Ruto’s Senior Economic Advisor David Ndii has told Kenyans to prepare for tough times ahead.
Speaking during the NCBA
Economic Forum in Nairobi, Ndii dispelled the notion that President William
Ruto’s government could be seeking to lower taxes for Kenyans anytime soon.
According to Ndii, as long as
Kenya is still in the International Monetary Fund (IMF) programme, cutting
taxes will remain a pipe dream.
"I want to make reference
to something I said before, when you are in an IMF programme, you are in
receivership. There is no relief, you are only going to get relief when you get
out of receivership," Ndii stated.
"When companies are in receivership they cut costs; they lay off people and the turnaround is costly.
"That is why some countries are where they are; they are in cycles of macroeconomic crisis.
"What you want to do is the structural things that we are
doing, we can’t keep going back to the question of how much relief we are
providing," he added.
However, Ndii pointed out that
the government is working on implementing key reforms aimed at spreading the
tax burden, which he says currently falls disproportionately on salaried
Kenyans.
His comments come amid the
reintroduction of aspects of the Finance Bill, 2024 as the government seeks to
raise at least Ksh.174 billion.
Through the Ministry of
Treasury, the tax measures will be consolidated into three new bills that will
be tabled before Parliament: Tax Laws (Amendment) Bill, 2024, Tax Procedures
(Amendment) Bill, 2024 and Public Finance Management (Amendment) Bill, 2024.
The Kenyan DAILY POST
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