Kenyans should brace themselves for higher taxes in the next financial year with the government seeking to increase the revenue collection target, which is expected to finance an expanded budget.
Kenyans are bracing for a fresh wave of economic hardship as a raft of new taxes, introduced under the Finance Act, 2024 came into effect.
Informal business owners operate without permits, tax registration, or bank accounts. Instead, they rely on cash transactions and often keep their earnings at home.
There is need to reduce Pay as You Earn Tax (PAYE) and other taxes levied on Kenyans by broadening the tax base, Treasury Cabinet Secretary John Mbadi has said.
Medical practitioner’s unions have clarified that the public servants’ comprehensive medical insurance scheme will be funded exclusively through allowances forfeited by the workers themselves.
G20 leaders gather in Brazil to discuss fighting poverty, boosting climate financing and other multilateral initiatives.
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