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New Kenyan President Ruto expressed his resolution to clean up the country’s taxation system and make it more progressive. In the process, he set out his aim to make the tax system fair, efficient, and based on one’s ability to pay
New Kenyan President Ruto expressed his resolution to clean up the country’s taxation system and make it more progressive. In the process, he set out his aim to make the tax system fair, efficient, and based on one’s ability to pay. As if to make his intent clear, the president said that commerce is being taxed high while allowing the rich to escape higher taxes.
Ruto also is committed to tackling the debt, which has increased sixfold since 2013 to about US$70 billion. Experts are of the view that Ruto cannot wash off his hand for the state of affairs since for nine years, he served as the Vice President in the earlier regime led by his predecessor Uhuru Kenyatta. A third of its 50 million people are living below the poverty line for years together. Kenya is East Africa’s most advanced country.
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The country is in the grip of inflation, which was officially pegged at 8.5% in August, the highest in five years’ time. The Kenyan currency shilling fell against the dollar, while the fuel prices jumped in mid-September after the fuel subsidy was pruned.
