https://en.sputniknews.africa/20241205/kenyan-national-assembly-reportedly-approves-some-of-tax-measures-which-caused-summer-mass-protests-1069567113.html
Kenyan National Assembly Reportedly Approves Some of Tax Measures Which Caused Summer Mass Protests
Kenyan National Assembly Reportedly Approves Some of Tax Measures Which Caused Summer Mass Protests
Sputnik Africa
In 2021, Kenya and the IMF agreed on a four-year loan program to address the problems caused by the COVID-19 pandemic. This summer, Kenya faced major protests... 05.12.2024, Sputnik Africa
2024-12-05T18:29+0100
2024-12-05T18:29+0100
2024-12-05T18:29+0100
sub-saharan africa
kenya
east africa
taxes
parliament
bank
international monetary fund (imf)
loan
government
protests
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The Kenyan National Assembly reportedly approved the tax measures that caused the summer mass protests. According to the media, an import tax will be increased from 1.5% to 2%.Other measures include economic presence tax for foreign firms running business in digital marketplaces.At the same time, the report noted that lawmakers rejected a 10% levy on infrastructure bonds and increased taxes on telephone and Internet data services.In October, Kamau Thugge, head of the Central Bank of Kenya, stated at the IMF and World Bank annual meetings in Washington that Kenya is complying with the IMF's demands to secure a four-year loan.Thugge mentioned that Kenya has met all requirements for the loan reviews and noted upcoming targets for December.
https://en.sputniknews.africa/20240813/kenyas-finance-ministry-strives-to-reinstate-tax-measures-previously-dropped-after-deadly-protests-1067844246.html
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kenya, east africa, taxes, parliament, bank, international monetary fund (imf), loan, government, protests
kenya, east africa, taxes, parliament, bank, international monetary fund (imf), loan, government, protests
Kenyan National Assembly Reportedly Approves Some of Tax Measures Which Caused Summer Mass Protests
In 2021, Kenya and the IMF agreed on a four-year loan program to address the problems caused by the COVID-19 pandemic. This summer, Kenya faced major protests sparked by a contentious finance bill that suggested higher taxes on numerous items caused by the demands of global creditors. In the end, President William Ruto withdrew the finance bill.
The Kenyan National Assembly reportedly
approved the tax measures that caused the summer mass protests. According to the media, an import tax will be increased from 1.5% to 2%.
Other measures
include economic presence tax for foreign firms running business in digital marketplaces.
At the same time, the report noted that lawmakers rejected a 10% levy on infrastructure bonds and increased taxes on telephone and Internet data services.
In October, Kamau Thugge, head of the Central Bank of Kenya, stated at the IMF and World Bank annual meetings in Washington that Kenya is complying with the IMF's
demands to secure a four-year loan.
Thugge mentioned that Kenya has met all requirements for the loan reviews and noted upcoming targets for December.
