Twenty Tax Exemptions And Reductions Kenyans Will Enjoy Should The Finance Bill Sail Through.
The 2023-2024 Financial Bill has ignited a very hot debate among Kenyans in the recent past. Several trade unions have been calling upon the government to allow their members to willingly join the national housing development program which is attracting a 3% deduction from their salaries. The government on the other hand has been insisting that the deductions are only a levy withdrawable after seven years.
JUST IN: UDA Reveals 5 Ways Finance Bill Will Improve Lives of Kenyans, Details
1. CUSHIONS KENYANS FROM IMPROMPTU INCREASE ON COST OF BASIC COMMODITIES: Section 10 of the Excise Duty Act, which allowed the Commissioner General of KRA to make an annual adjustment to the specified rate of excise duty to account for inflation, is proposed for repeal in the Finance Bill.
Government Revenue Falls Short Startling Revelations by CS Ndung’u
During his appearance before the Budget and Appropriations Committee, Njuguna Ndung’u, the National Treasury Cabinet Secretary, disclosed that the government fell short of its revenue collection target by the end of April 2023. The total revenue, including Appropriations-In-Aid, amounted to Sh1.894 trillion, which was Sh124.8 billion below the target of Sh2.01 trillion.
Azimio Exposes 2 Biggest Red Flags Which People Haven't Noticed In Ruto's 2023 Financial Bill
Fresh details have continued coming up following what is happening across the country. A lot has been said as campaign for 2023 financial bill continues. Azimio La Umoja leadership has firmly stood against this claiming that it is going to ruin the economic status of this country. This is as a result of what is claimed to be unnecessary hiking of taxes which won't benefit Kenyans that much.
Bad News To Kenyans As Government Plans To Introduce This Tax On PSV Companies
In a trending photo depicting a section of the proposed 2023 financial bill, a bill that seeks to introduce a new tax on the Public Service Vehicles (PSV) has emerged. In the bill, all the public service vehicles will be required to pay one hundred shillings every month as a tax per seat in the vehicle.
Vote NO, Githunguri Residents Tells UDA's Gathoni Wamuchomba to Reject Ruto's Tax Proposals
The tax proposals by the Kenya Kwanza administration seems to be falling out of favor on majority of Kenyans who are now opposing it. In the finance bill 2023, the Kenya Kwanza ia proposing several taxes among them an increase in fuel levy to 16% from the current 8%, an introduction of a 15% tax on earnings from digital content creators and the contravarsial 3% tax to finance the affordable housing among others.
Investors Unanimously Oppose The Finance Bill And Warns Ruto Of What Will Happen If The Bill Passes.
Kenyan investors have joined other Kenyans in castigating the Finance Bill 2023. The investors have warned the government of passing the Bill which according to them will cause business closure, unemployment and government inability to collect taxes. The Kenya Association of Manufacturers Private Sector fear looming job losses in Kenya Kwanza administration due to Ruto’s Finance Bill that is debated on parliament.
Bad News To Car Owners As Ruto’s Finance Bill Allegedly Introduces Ksh.5,000 Tax On All Vehicles
Sad news was delivered to Kenyans who own cars in the country today after new information about increased vehicle levies surfaced. This comes after the Head of State suggested a Ksh 5,000 tax on all domestic automobiles. The financial bill has reportedly enacted new taxes on all automobiles, according to trustworthy information supplied by numerous sources.
More Taxes Loading as it Emerges What Ruto Has Directed be Done to All Kenyans Above 18 Years
Kenyans have now been alerted about the new strategy President William Ruto plans to use to cash in even more on taxes. Already, the President is under criticism for coming up with too much taxes, criticism he has dismissed, maintaining that what he is doing is very necessary.
Senator Ledama Revealed The Unnecessary Taxes To Be Paid By All Citizens
Senator Olekina Ledama of Narok County reacted through his official twitter page about the economy crisis as well as unnecessary taxes that the United Democratic Alliance (UDA) government have put in place in order to be paid by all Kenyans. " So what is wrong with the finance bill ?
"Beware, Burden Of Taxes Lies Ahead" Journalist Dissects Ruto's Controversial Financial Bill
The Housing Fund has been the subject of intense discussion over the past several days. We have debated its advantages and disadvantages and whether it is a tax or a savings. Who is given a home? Does anyone not? Without a doubt, it is significant, but let's not overlook the numerous other parts of the measure that also need our attention.
Ruto Orders KRA to Stop Offering Tax Reliefs And do This to All Adults in Kenya
President William Ruto has refused to back down from pushing forward the 2023 Finance Bill, even after facing a lot of criticism. The Finance Bill is meant to increase the government's collection of taxes. Days ago, when the president was interviewed, he said that the government has excluded different taxes that balance with the ones introduced.
FINANCE BILL 2023: Reaction from Business Stakeholders on Finance Proposal
The ongoing debate in parliament on Financial Bill 2023 has become a major concern for many Kenyans running small and large scale businesses countrywide. The Proposed Finance Bill 2023 may lead to an increase in taxes such as value added tax (VAT), House Levy, Kenya Revenue Authority (KRA) which will likely take effect after the Proposal is implemented.
More pain for Kenyans: 'Hidden' ways tax plan will raid pockets
Amidst the ongoing debates and controversies surrounding the proposed Housing Fund Levy, it is crucial not to overlook the various other tax proposals outlined in the Finance Bill 2023. While the focus has primarily been on this housing levy, it is essential to acknowledge that the bill contains numerous provisions aimed at extracting more taxes from Kenyan citizens.
It Is A Good Thing To Pay Tax, Atwoli Advises Kenyans.
Central Organisation For Trade Unions secretary general Francis Atwoli has thrown his weight behind the controversial 2023-2024 financial bill, saying it is healthy for the nation. According to him, the mandatory nature of tax collections should not be looked at as a punishment but a tool for development in any country.
A Comprehensive Guide to Filing KRA Returns in Kenya: Step-by-Step Instructions
Filing your KRA returns in Kenya is a crucial responsibility for taxpayers. To ensure a smooth and successful process, follow this step-by-step guide: Step 1: Gather the necessary documents Before you start filing your KRA returns, gather all the required documents. This includes your KRA PIN, employer's PAYE certificate (if applicable), bank statements, and any other relevant documents related to your income, such as rental or business revenue statements.
Analysis Of The Advantages And Disadvantages Of Increasing Tax Both On The Government And Citizens.
The impact of an increase in taxes on a country and its citizens can vary depending on the specific context and how the additional tax revenue is utilized. However, I can provide you with some general perspectives on this topic. Reasons why an increase in taxes can be beneficial for a country:
President Ruto's Controversial Financial Bill Faces Another Hurdle As NA Raises New Alarm
The proposed Finance Bill 2023 was met with opposition from 55 of 66 organizations during hearings held by the National Assembly Finance Committee on Friday, May 27. This puts President William Ruto's administration in a difficult situation. In a statement issued by the National Assembly, a number of lobbying organizations and workers' representatives voiced their opposition to the planned Housing Fund and higher taxes on a variety of goods.
We Must Accept To Be Taxed, Residents Give Different Opinions About Finance Bill 2023
Residents of Garissa County participated in a public participation of the 2023 finance bill today, giving Kenyans the opportunity to voice their concerns to the government. Photo Courtesy used for illustration purpose only The administration has included new methods of tax collection in the financial bill 2023, which has not yet been approved by parliament.
Pauline Njoroge Discloses What Will Happen If The President Listens To Kenyans And Drop The 3% Tax.
Pauline Njoroge a digital strategist and an opposition blogger took to her social media account to warn Kenyans of what might happen if president Ruto yields to pressure on the 3% housing Levy. She revealed that since Kenyans are focused on the 3% housing tax, the president may play politics and drop it.