Sign in
Download Opera News App

 

 

Just In: Bad News As Government Doubles Prices Of The Following Products, Economic CS Announces

The Kwanza administration in Kenya wants to double taxes on three goods that the country uses. Due to the fact that tax increases will force prices to rise, Kenyans who are already struggling with the high cost of living will have to prepare for more challenging times this year.

Stamping excise taxes on fruit juices will rise from the current Ksh 0.6 to 2.23, according to reliable sources. From Ksh 2.8 to Ksh 5.02, cigarettes' excise stamp fees will double.

With a fourfold increase compared to the current taxes, cosmetics will be most affected. Their excise stamps will cost Ksh 2.5, up from Ksh 0.6. The tax increase has not affected water in bottles. At Ksh 0.5, it will be retained.

Kenyans will continue to be burdened by this as President William Ruto races to increase tax collection in the next five years to support the government's rapidly increasing spending needs, including rising annual debt servicing costs.

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

Bad News Kenya Kenyans Ksh Kwanza

COMMENTS

Load app to read more comments