mwashao
New Lister
Members of Parliament have for once stood with the people by shooting down the punitive proposed taxes on maize flour, wheat flour, cooking gas, beer, wines, and spirits that had been proposed by the National Treasury in the Financial Bill 2022. If the Bill had been allowed to sail through, maize, cassava, and wheat flour would have been subjected to the 16 percent VAT, a move that would have seen the prices of the commodities skyrocket further hurting the already-torn Kenyan pockets.
At the same time, the Finance and National Planning Committee rejected an increase in the rate of excise duty for imported motorcycles saying that the move would lead to an increase in the prices of boda bodas, a key transport tool in the country. Beer manufacturers also have a reason to smile after the committee proposed the retention of the rate of the current excise duties on beers, wines, and spirits. The rate of the excise duty on beers, wines, and spirits has been proposed to remain at 121.85, 208.20, and 278.70 shillings per liter respectively.
Gamers also have a reason to smile after the committee proposed the holding of the rate of excise duty on wagered amounts at 7.5 percent from the proposed 20 percent. The introduction of a 15 percent duty rate on advertisements for betting and gaming has been rejected. The National Treasury had hoped to collect at least 50 billion shillings in revenue on increased taxation on alcohol, juice, and bottled water. The move would have seen the price of the said commodities go up the highest in history. There were calls on MPs to reject the bill with Kenyans saying the economy has already hit them enough.
was also under consideration