The bill aimed to address Kenya's $80 billion debt, with the government opting for tax increases rather than spending cuts. Moody's subsequently downgraded Kenya's debt rating, citing the government's decision to abandon the tax hikes. Ruto has announced new borrowing plans and spending...
The Finance Bill 2023 was finally tabled before the National Assembly last week. The Bill comes after a lot of speculation by taxpayers, lobbying by business associations, and speeches or promises from government officials. Changes that taxpayers were expecting in the Bill include the exempt...
Now Kenya’s government, along with protesters, faces pleas for calm from partners including the U.S., which joined a dozen other nations in a statement Tuesday expressing “deep concern” over the violence and abductions. “How did we get here?” Kenya’s ...
Kenya’s controversial tax hike bill which sparked street protests, resulting in the shooting of a frontline AFP photojournalist in Nairobi and protesters storming the parliament, has been adopted by parliament amid accusation that some MPs were bribed t
Tension is building across Kenya as young people protest against proposed tax hikes in the bill that seeks to raise an additional $2.7 billion to reduce budget deficit. On Tuesday, people took to the streets in different cities across the country as the demonstrations entered the second week, ...
Police have fired tear gas at dozens of protesters in Kenya's capital and blocked off roads to the presidential palace as crowds took to the streets again nationwide. The demonstrations took place over a controversial tax hike bill despite the president bowing to pressur...
Finance Bill 2024: Major Issues Remain Unsolved on Fuel, Tax Base How to Structure Your Business for Tax Optimization in Kenya Insurers Risk Penalties on Failure to Collect Motor Vehicle Tax-Finance Bill 2024 Uber Kenya Releases Data on Consumer Trends in 2023 ...
Under a cash-based system, there is no such incentive, meaning long-term investment is deferred, and future generations are left to pick up the bill when buildings fall into disrepair and the infrastructure crumbles. The success of New Zealand’s reforms are reflected in its fiscal performance,...
Kenya, a nation often praised for its stability, had seen escalating protests over the bill, which the government introduced to rein in public debt. Last week, the governmentscrappedsome tax increases, including a proposed 16% value-added tax on bread along with taxes on motor vehicles, vegetab...
Demonstrators protest against proposed tax hikes in a finance bill that is due to be tabled in parliament in Nairobi, Kenya, on Tuesday, June 18, 2024. Civil society groups say that despite the dozens of arrests, demonstrations and a planned sit-down outside the parliament buildings will c...