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The Kenya Finance Bill 2024 was a piece of legislation that proposed changes to the tax system of Kenya, [ 1] which involves tax increases. [ 2] The proposed bill aims to raise 346 billion Kenyan shillings (KSh) to pay off debt and fund development projects. [ 2][ 3] It was first introduced in May 2024 and has been controversial, [ 4] with some ...
For Tax purposes a resident of Kenya is defined as anyone who is present in Kenya for 183 days during a 12-month period. An individual that stays in Kenya for longer than 183 days is considered to be a resident from the day of arrival. After leaving, Kenyan tax liability of an individual ends.
The 2024 Finance Bill is the first in a series of tax reforms based on a Medium-Term revenue Strategy (MTRS) devised and published by the Kenyan government in 2023 through the Ministry of National Treasury and Economic Planning. The MTRS aims to increase the tax-to-GDP ratio in Kenya from 13.5% to at least 20% from 2024 to 2027. [23]
NAIROBI (Reuters) -Kenya's government plans to cut 2024-25 spending by 1.9% and widen the fiscal deficit to 3.6% of GDP in a revised budget, the treasury said, weeks after it was forced to roll ...
Last week, the government scrapped some tax increases, including a proposed 16% value-added tax on bread along with taxes on motor vehicles, vegetable oil and mobile money transfers.
June 26, 2024 at 8:51 AM. (Reuters) - Kenya's President William Ruto on Wednesday declined to sign a highly contentious finance bill that has sparked nationwide deadly protests, and has sent it ...
The 2007–2008 Kenyan crisis was a violent political, economic, and humanitarian crisis in Kenya. The crisis erupted after incumbent President Mwai Kibaki was declared the winner of the 2007 presidential election. Supporters of Kibaki's main opponent in that election, Raila Odinga of the Orange Democratic Movement, alleged electoral manipulation.
NAIROBI (Reuters) - Kenyan President William Ruto vowed on Friday that protests planned next week would not be allowed following two rounds of demonstrations that have left at least 15 people dead.