Nipate
Forum => Kenya Discussion => Topic started by: gout on June 06, 2023, 12:32:33 PM
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While most opposition is in Housing Fund. This is the greatest blow to the struggling economy.
Most hustlers make sales above 1500 daily making them eligible. Margins for most retails items are less than 3%- so it will be skimming all the profits. Madness.
Increase in Turnover Tax
The Bill proposes to increase turnover tax rate from 1% to 3% for businesses, by amending the Third Schedule of the Income Tax Act. It also proposes to amend Section 12C of the Income Tax Act by changing the band of persons eligible to pay turnover tax from current band of Kshs 1M – 50M to Kshs. 500,000 – Ksh. 15M.
Other fatal blows to hasoras are the 8-16% tax rate increment on petroleum products and MPesa excise duty increment while dynasty banks get cuts.
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Agreed.Housing levy is OK. FUEL 8 PERCENT N turn over need review
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The increase of VAT on fuel seems like removal of subsidies for the rich car owners.
The trickle down effect fear mongering on the poor is a scapegoat for continued subsidizing the rich.
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Yes if diesel is not part of it - shouldnt affect the economy much.
The increase of VAT on fuel seems like removal of subsidies for the rich car owners.
The trickle down effect fear mongering on the poor is a scapegoat for continued subsidizing the rich.