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Kenya’s National Treasury has proposed four bills for 2024 to increase tax revenue and support county funding
They include:
—Tax Laws Amendment: Expands tax on digital services like ride-hailing, freelancing, and food delivery.
Introduces a minimum 15% tax on global companies with annual revenue above Sh100 billion.
—Tax Procedures Amendment: Adds penalties, including a 10% charge on tax agents who fail to remit withholding tax.
—Public Finance (Amendment) No. 3: Ensures counties can access up to 50% of the previous year’s funds if key revenue bills are delayed.
—Public Finance (Amendment) No. 4: Clarifies regulations on government borrowing and guarantees.
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