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CS Rotich spares high income earners from additional taxes - 8 months ago, 14 June 17:50

By: Fredrick Obura And ...

High income earners have been spared paying more taxes following public concern on the new income tax bill.

During 2018/19 budget presentation CS Henry Rotich said the government has shelved the bill which proposed 35 per cent top tax rate as part of the quest to increase income tax revenues.

“I had proposed to introduce a higher tax band of 35 percent on income above Sh750, 000  per month, and an increase of the capital gains tax from 5 to 20 percent. However during the public consultation on the bill, members of the public raised concern on the bill, and were of the view that the higher rates were not appropriate at the time.”

BUDGET HIGHLIGHTS

MOBILE MONEY TRANSFER

Treasury CS Henry Rotich increases excise duty on mobile money transfer from 10 to 12 percent. Move aimed at getting more money for the universal healthcare.

“For the government to get a ...
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