Kenya tax plan will hurt business and dim economic recovery, economists warn

taxes

Items that had been zero-rated are proposed to be subjected to VAT. PHOTO | SHUTTERSTOCK

Financial analysts are warning that the Kenya Finance Bill 2024 that was tabled before the National Assembly this week could impact economic recovery if implemented without amending a raft of tax proposals.

The bill introduces, among others, Motor-Vehicle Tax, Minimum Top-Up Tax and Significant Economic Presence tax and amendments aimed at enhancing revenue collection and tax compliance.