The Cabinet Secretary responsible for the National Treasury read his budget statement on 7 April 2022. In this alert, we summarise the salient tax proposals set out by the Cabinet.
In the 2021/22 budget statement, Treasury cabinet secretary noted that the country’s tax policies are spread across various statutes which are amended every year.
A tax policy is urgent for Kenya’s economy
Friday July 30 2021
A Kenya Revenue Authority staff assist a taxpayer file her tax returns at the iTax Support Centre in Nairobi Railways on June 30, 2020. PHOTO | DENNIS ONSONGO | NMG
By DENNIS KABAARA
If we are serious about this tax policy idea, we could begin with Reagan’s musings.
We might also get theoretical, and recall Adam Smith’s equity, fairness, simplicity, certainty, convenience and efficiency principles.
Or we might reverse-engineer policy from three OECD thoughts on what a revenue administration like KRA depends on to succeed.
After holding hands and singing ‘kumbaya’ with a government that embarked on a costly nine-year mega-project investment spree that has quadrupled real debt while slightly more than doubling the nominal size of the economy, there was a real feeling of “karma” observing private sector leaders lament the deleterious impact recent tax changes would have on jobs and overall economic recov