Kenyans are facing tough times ahead as the country strives to raise money to fund the budget. Kenya’s revenue authority wants to raise more than a trillion shillings from various Tax measures that will on the other end make the lives of Kenyans harder.
Kenyans are already facing tough economic times having lost their jobs and businesses because of the deadly virus called COVID 19 that has ravaged the world. The virus doesn’t seem to slow down and the economies of the world are not recovering fast enough the alleviate the pains of the people.
The Government of Kenya has already applied for a moratorium to suspend the timelines they were given to repay their loans and as a consequence, some lenders like the Chinese banks have frozen the money that they are lending Kenya to fund the various infrastructure programs being undertaken in the country by the Chinese companies here in Kenya. This means that these projects will stall because these Chinese companies are directly being paid by the Chinese government and banks.
Kenya is broke but further TAX measures will push more people into poverty. In the current financial bill that was signed by President Uhuru Kenyatta yesterday, the Kenya Revenue Authority has re-introduced excise duty on LPG Gas, loans, Data, and airtime among various commodities to raise over a trillion shillings from these measures.
This means that the cost of airtime, cooking gas, internet and loans is set to go high by 20%. The cost of cooking gas is set to be increased by almost400 shillings and banks are set to charge higher fees in loans making it very expensive to borrow from banks.
Kenyans are being over-taxed by this government but the unfortunate thing is that even if the money is raised by the government, it will still end up in the pockets of the civil servants who are supposed to prudently use the public resources, they instead steal everything compromising services and development projects.
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