Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
National tax policy step welcome
It is clear that realising tax yields from the hard-to-tax sectors will require a lot of work that will entail the use of big data to establish tax potential, and reducing the cost of formalisation. FILE PHOTO | SHUTTERSTOCK
With the Finance Bill 2023 having been signed into law, it is now imperative to address some of the structural weaknesses in Kenya’s tax system. There was so much tiki-taka around the Bill during public participation as well as debating stages.
First, a finance bill is basically a taxation plan on how to fund a budget. Because it often entails amending tax laws and administration to achieve desired revenue target(s), it has to be (dis)approved by Parliament (where the power to tax domiciles).
