Thursday, June 6, 2024 - Attorney General Justin Muturi has supported President William Ruto’s tax policies, saying they will bolster the country’s economy in the coming years.
Speaking in Kirinyaga during the dissemination of the fourth
medium-term plan on Tuesday, Muturi said that the current tax levels in the
country are low compared to the GDP and thus the need to raise it to the level
of the economy.
Muturi said that most Kenyans have misinterpreted and
misconstrued President Ruto's statement on raising the level of taxes in the
country.
On May 14, 2024, President Ruto announced his plan to
significantly increase Kenya’s average tax rate.
The proposal aims to raise the current tax rate of 14
percent to approximately 22 percent by 2027, noting that the initiative will
play a pivotal role in realizing its vision for the country's economic future.
“My drive is to push Kenya, possibly this year we will be at 16 percent from 14 percent.
"I want in my term, God willing, to leave it at between 20 and 22 percent.
"It's going to be difficult, I have a lot of explaining to do, people will complain but I know finally they will appreciate that the money we go to borrow from the World Bank is savings from other countries,”
President Ruto said while addressing the Harvard Business School’s
Class of 2025 students at State House, Nairobi.
The Kenyan DAILY POST
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