Ruto Plans Tax Hike to 22%: “Difficult, but Necessary,” Says President
President William Ruto captured at State House in Nairobi on November 7, 2023.Image |Courtesy
In Summary:
President William Ruto is advocating for a significant tax increase in Kenya, aiming to raise the current rate from 14% to 22% by the end of his term.
He argues that this move is crucial for boosting revenue and reducing reliance on borrowing. Despite acknowledging the initial challenges and complaints, Ruto believes the long-term benefits will justify the adjustment.
President William Ruto has defended the Kenyan government's decision to implement additional taxes, emphasizing its role in bolstering the country's revenue and lessening dependency on loans.
Ruto outlined his intentions to gradually elevate Kenya's average tax rate from the existing 14% to 16% by the c...