Kenya’s President, William Ruto, has recently signed his government’s inaugural finance bill into law. The bill aims to bolster revenue by implementing tax hikes on various items.
One of the most contentious changes approved by parliament last week involves doubling the value-added tax on fuel, which will increase from 8% to 16%.
Additionally, employees will now contribute 1.5% of their gross pay to a housing levy. This levy will be utilized to construct affordable homes for low-income individuals.
President Ruto, elected just last year, has emphasized the necessity of generating more funds to address the mounting debts incurred during the previous presidency of Uhuru Kenyatta.
However, the opposition has expressed opposition to these tax hikes and has threatened to organize protests if they are implemented.
