- Treasury CS John Mbadi announced tax cuts over the next three years to ease financial burden on Kenyans
- VAT will be reduced from 16% to 14% and corporate tax from 30% to 25%
- Focus on fostering economic resilience in key sectors like agriculture, manufacturing, and housing
- Government committed to fiscal discipline, transparency, and efficiency in resource use
- Emphasis on supporting SMEs, affordable housing projects, and economic recovery
- Fourth Medium Term Plan to focus on transforming MSME economy, healthcare, housing, and digital infrastructure
- Implementation of FY 2024/25 budget progressing despite challenges from withdrawal of 2024 Finance Bill
- Tax cuts expected to boost household purchasing power and business profitability
Source: kenyans.co.ke
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
