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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.
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. [26]
NAIROBI, Kenya (AP) — Thousands of mostly young people demonstrated Thursday in Kenya’s capital and across the country against new tax proposals by the administration of President William Ruto ...
On 25 June 2024, thousands of protesters stormed the Kenyan Parliament Building in Nairobi in response to the passing of the Kenya Finance Bill 2024, part of a larger series of protests against the proposed tax increases. The protest escalated when the protesters set part of the building on fire. [4]
2024 Parliament of Kenya assault: The Parliament Buildings in Nairobi are set on fire during protests against the finance bill, [17] while 10 protesters are shot dead by police. [ 18 ] Kenyan police units arrive in Haiti for a United Nations -backed security mission to restore order.
The biggest tax legislation Donald Trump passed as president was the 2017 Tax Cuts and Jobs Act (TCJA), which raised the standard deduction, lowered corporate and estate tax rates and increased the...
Police in Kenya's capital Nairobi fired teargas to try to disperse protesters demonstrating on Monday against what they say is a wave of unexplained abductions of government critics as well as ...
Kenya's taxation system covers income tax, value-added tax, customs and excise duty.The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with the above taxes while also having the authority to undertake reviews on various companies and corporations.