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Rich to be taxed more Lobby Group Demands

Several human rights activists are now urging the government to consider raising taxes on the wealthy.

The lobbying group wants the state to increase the tax rate on the wealthy by 3%.

According to them, there has been a lot of inequality in the last few months, especially during the economic recovery.

Joab Okanda, a senior advisor with Christian Aid Pan Africa, asked the government to find other ways to achieve financial equality.

During a news conference on Tuesday, Okanda stated that the benefits of progress are not evenly distributed.

"We feel that a tax on the wealthiest members of society will go a long way toward creating a Kenya that is more inclusive, united, and sustainable," Okanda said.

He went on to say that this will prioritize Kenyans' lives over business interests.

The levy on assets inherited from a deceased person is known as inheritance tax.

Unlike the estate tax, which is imposed on the value of the decedent's estate and deducted from it, an inheritance tax is imposed on the value of the inheritance.

The beneficiary is responsible for paying inheritance tax.

In Kenya, if the deceased person had no spouse or children, the estate is divided between the father and the mother. If the father is deceased, the estate is divided between the mother and the father.

Over the next ten years, the number of millionaires in Kenya is expected to increase by 80 percent.

According to new statistics from the Fight Inequality Alliance, the Institute for Policy Studies, Oxfam, and Patriotic Millionaires, a yearly wealth tax on Kenya's multi-millionaires and billionaires would raise $900 million per year.

According to the research, this would be enough to raise the government's health budget by 36% or lower consumers' out-of-pocket health costs.

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

Christian Aid Pan Africa Joab Okanda Lobby Group Okanda

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