In Kenya, there is a debate over the Finance Bill 2024, with Pres. William Ruto proposing taxes to be raised to 22% of the GDP. The bill includes a motor vehicle circulation tax to raise 58.02 billion shillings, which has faced criticism. The Association of Kenya Insurers urges the National Assembly to reject this tax, citing increased costs for motor insurance. The Kenya Association of Manufacturers is concerned about the repeal of Sec14 of the Excise Duty Act and the proposed Eco Levy on various products. Experts are discussing how the Finance Bill 2024 will impact Kenyans and the tech sector.
Have you submitted your queries regarding the Finance Bill 2024? Send your comments to👇 https://t.co/bxEKAdHqZi
“Finance Bill Will Fry Kenyans” The Bill currently before the National Assembly proposes 25% excise duty both on crude and refined vegetable oils. #NTVWeekendEdition @zeynabIsmail https://t.co/5CjcGsvXDH
What's in the Finance Bill 2024 and how will it impact Kenyans? Tonight we speak to the experts. Send in your questions @TrevorOmbija #MondayReport https://t.co/yweEvtFFky
Understanding how the Finance Bill 2024 will affect tech with CPA Hadijah Nannyomo, a tax partner with Ernst & Young #NTVTechOver @BrianGeorgeKE https://t.co/bVSuWIBKg6
Kenya Association of Manufacturers issues its statement regarding Finance Bill 2024. Among the issues the association raises is the repeal of Sec14 of the Excise Duty Act as well as the imposition of the proposed Eco Levy on a number of products. So far, we have statements… https://t.co/5ugm7KfL0W https://t.co/fIUYzRYnSV
The Association of Kenya Insurers (@AKI_Kenya) urges the National Assembly to discard the proposed motor circulation tax in the Finance Bill, 2024: —People pay 5% for comprehensive coverage, and adding the 2.5% tax will make 7.5% in total. The tax will raise the cost of motor… https://t.co/jrCPw8C03l
The Association of Kenya Insurers (@AKI_Kenya) urges the National Assembly to discard the proposed motor circulation tax in the Finance Bill, 2024: —The tax will increase the cost of motor insurance, potentially leading motorists to opt for less comprehensive coverage. —This… https://t.co/PbW0fq6skD
Kuria Kimani: The motor vehicle circulation tax as proposed is going to raise 58.02 billion shillings. Last Finance Bill became a conversation about the housing levy and VAT on fuel and we missed out on 82 other clauses that were on that bill. Unfortunately, I see the same… https://t.co/E3ujqCbQvp
Ndiritu Muriithi, Former Governor Laikipia: You will never really tax yourself into prosperity. The trajectory we are on of uncontained expenditure appetite will lead us to ruin. Price of bread, surely, what are you after? Motor vehicle circulation tax, what it will do is… https://t.co/AxvVdhemUg
Kuria Kimani, Chair Finance Committee National Assembly: There is an ongoing process on public participation on the budget and I wish that Kenyans would be as engaged and as eager to give their views that they are giving on the Finance Bill as they were on the budget. The Finance… https://t.co/YjemvXDiZf
Still on #Tonight: Pres. William Ruto wants taxes raised to 22 percent of the GDP. The Finance Bill 2024 proposes several tax raises amidst complaints from industry players and Kenyans. @SamGituku engages Finance Chair @KuriaKimaniMP and Fmr. Governor @NdirituMuriithi https://t.co/AYzuAx4Zzr