Kenya's Finance Bill Explained

CGTN Africa 313 subscribers

After a deeply acrimonious, chaotic debate, Kenyan legislators finally approved the budget for the 2018/19 fiscal year. With it, they agreed to a raft of higher taxes on the East African nation's taxpayers. These are the main tax measures you need to know about. The most contentious proposal was the imposition of Value Added Tax on petroleum products. A rate of 8% is now applicable on unleaded gas, diesel, and kerosene. However, a levy of 18 US cents per litre was also applied on Kerosene, to discourage its use in diluting other fuels. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica

2 Comments

  • NOTHING ON *EXPORT & IMPORT TAXES* FOR FOREIGN COMPANIES. You can't keep raising taxes on the people but lowering them for multi-billion dollar international companies. THERE WILL NEVER BE A TIME WHEN THEY, *WILLINGLY & HAPPILY PAY INTERNAL TAXES TO AFRICAN COUNTRIES,* YOU NEED THE FOREIGN DOLLARS MORE THAN, YOU NEED LOCAL MONEY, Price your taxes to a little less than what they'd pay elsewhere, as you slowly raise it... THE GOOD IS THE RISE IN BANKING TAXES, ALL ACROSS THE BROAD, Folks will pay that, none have any other choice, *NOW WHAT IS THE PEOPLE GETTING, LOCALLY FOR THOSE HIGHER TAXES..?* Tax us all, that's fine BUT WHAT IS MY TAXES PAYING FOR...? Even the most uneducated housewife need that info. WHERE IS IT..? This is adulthood are we ready..? WELL, GIVE US THE FACTS...* HELP US MAKE INFORMED DECISIONS.* Thanks.

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  • No banking now from today😈😈😈

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