@BdAfrica

Tough balancing act for Treasury in bid to finance national - 10 months ago, 13 June 22:35

Neville Otuki

It’s a delicate balancing act for Treasury secretary Henry Rotich as he Thursday presents a budget whose growth is expected to be largely financed by tax increases which critics feel are unjustified in light of deeply entrenched corruption in government.

Mr Rotich’s Sh3 trillion spending plan for the next financial year starting July 1, represents an increase of about Sh400 billion on the current year’s Sh2.6 trillion budget which closes end month.

“The proposed tax increases, if passed, will make us the worst tax jurisdiction in our environment. The government needs to look at its expenditure. That is the disease, everything else is a symptom of that disease,” said Aly-Khan Satchu, an independent analyst.“I believe we have squeezed existing taxpayers until the pips have squeaked.”

The Treasury expects the additional revenue to come from higher sin taxes and income tax, along with the introduction of a 16 per cent value-added tax (VAT) on ...
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