Sign in
Download Opera News App

News Politics

 

Politics

 

Financial policy

How the government is losing Billions of money to tax evaders

Tax evading leads to reduction of public revenue collection and thereby impacting the growth of a country. There is a significant impact on the black money which is piled up due to tax avoidance, and can lead to uncessary inflation.

Kenya revenue authority should be vigilant and take stun action against anybody found contravening the requirements of excise duty act and it's regulations. Taxpayers are encouraged to remain complaint with tax laws inorder to avoid punitive enforcement measures including prosecution.

Kenya revenue authority has some rogue officials who smuggle illegal alcohol into the country after being bribed. This makes the illegal drinks to be sold at a very low prices. The country end up losing billions in revenue collection.

It is so unfortunate that genuine industries are being subjected to harsh economic times while fake ones are being shielded from the same. These officials are said to enable parallel system used to avoid revenue and ensure the same end up in the pockets of individuals.

Content created and supplied by: Labancreatives (via Opera News )

Kenya

COMMENTS

Load app to read more comments