Posted 1/19/2024, 3:00:00 AM
Kenyans Brace for Over Sh800 Billion in New Taxes Under IMF Austerity Plan
- Kenyans facing over Sh800 billion in new taxes over 3 years under IMF plan
- Taxes aimed at increasing Kenya's tax-to-GDP ratio by 5 percentage points by 2027
- New taxes to be included in 2024 Finance Bill based on IMF recommendations
- Taxes include vehicle circulation tax, minimum tax, import taxes, alcohol and tobacco taxes
- Despite new taxes, Kenya struggling to meet revenue targets due to weak economic activity