[Kenya] Pledge to slash PAYE by 50% and waive accrued tax penalties

[Kenya] Pledge to slash PAYE by 50% and waive accrued tax penalties
28 Jul 2022

In Kenya, as the cost of living crisis continues to bite, Agano Party presidential candidate David Mwaure has pledged to roll out a far-reaching tax policy change in a bid to tackle it, Capital News reports.

On July 26 Mr Mwaure announced that his government would slash the Pay As You Earn (PAYE) rate by 50 per cent and waive all accrued tax penalties.

“As far as I am concerned, we in Agano are already counting our 100 days in office and one of the things we want to address is the issue of exorbitant taxes,” he said.

Speaking during the presidential debate, Mr Mwaure said his government would deal with the projected decline of PAYE revenues to Sh230 billion down from Sh460 billion.

In Kenya PAYE deductions reportedly generate around 25 per cent of locally-raised revenues.

Mr Mwaure also promised to review corporate tax which he described as a “big problem” that threatens to cripple businesses.

He also cited government bureaucracy and underhand dealings by government officials who he accused of frustrating investors seeking to establish industries in the country.

Without revealing names, Mr Mwaure accused his competitors of being insincere about the fight against corruption.

He dismissed all his competitors - Wajackoyah, UDA’s William Ruto and Azimio’s Raila Odinga - by saying that they had failed to demonstrate their ability to address the country’s pressing challenges during their time working in government in various capacities.


Source: Capital News

(Quotes via original reporting)

In Kenya, as the cost of living crisis continues to bite, Agano Party presidential candidate David Mwaure has pledged to roll out a far-reaching tax policy change in a bid to tackle it, Capital News reports.

On July 26 Mr Mwaure announced that his government would slash the Pay As You Earn (PAYE) rate by 50 per cent and waive all accrued tax penalties.

“As far as I am concerned, we in Agano are already counting our 100 days in office and one of the things we want to address is the issue of exorbitant taxes,” he said.

Speaking during the presidential debate, Mr Mwaure said his government would deal with the projected decline of PAYE revenues to Sh230 billion down from Sh460 billion.

In Kenya PAYE deductions reportedly generate around 25 per cent of locally-raised revenues.

Mr Mwaure also promised to review corporate tax which he described as a “big problem” that threatens to cripple businesses.

He also cited government bureaucracy and underhand dealings by government officials who he accused of frustrating investors seeking to establish industries in the country.

Without revealing names, Mr Mwaure accused his competitors of being insincere about the fight against corruption.

He dismissed all his competitors - Wajackoyah, UDA’s William Ruto and Azimio’s Raila Odinga - by saying that they had failed to demonstrate their ability to address the country’s pressing challenges during their time working in government in various capacities.


Source: Capital News

(Quotes via original reporting)

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