Ruto Acknowledges Tax Concessions

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President William Ruto and a host of Kenya Kwanza Parliamentary Group members addressing the media on Tuesday, June 18, 2024.

President William Ruto commends government’s retraction of major tax proposals.

President William Ruto lauds government’s withdrawal of significant tax proposals from the Finance Bill, 2024, citing it as an example of democracy in action.

Relief for Kenyans

The Kenya Kwanza administration scraps several tax proposals, easing the burden on citizens and businesses.

The decision to scrap several tax proposals, including the contentious 16% Value Added Tax (VAT) on bread, is a welcome relief for citizens and businesses grappling with financial challenges.

Democratic Process in Action

Ruto expresses satisfaction with public engagement on the Finance Bill.

President Ruto expresses satisfaction with the level of public engagement surrounding the Finance Bill, highlighting the responsiveness of the government to citizen concerns.

Collaborative Efforts

President chairs Kenya Kwanza Parliamentary Group meeting, emphasizing cooperation between executive and Parliament.

During a recent Kenya Kwanza Parliamentary Group meeting chaired by President Ruto, there was emphasis on collaboration between the executive and Parliament.

Praise for MPs

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Ruto applauds MPs for diligent scrutiny of legislative proposals.

President Ruto extends appreciation to Members of Parliament for their diligent scrutiny of legislative proposals, including the Finance Bill, 2024.

Tax Proposals Withdrawn

Key tax measures dropped from Finance Bill 2024, easing pressure on citizens and small businesses.

The withdrawal of key tax proposals from the Finance Bill, 2024 provides much-needed relief to citizens and small businesses.

Threshold Adjustments

VAT registration threshold increased to Sh8 million, reducing tax obligations for small enterprises.

The government raises the VAT registration threshold from Sh5 million to Sh8 million, easing tax obligations for small businesses.

Government’s Response

Government acknowledges public outcry, demonstrating responsiveness to citizens’ concerns.

The government’s decision to retract contentious tax proposals underscores its responsiveness to citizens’ concerns.

Impact on Citizens

Citizens and small businesses benefit from the government’s decision to retract contentious tax proposals.

The withdrawal of tax proposals from the Finance Bill, 2024 positively impacts citizens and small businesses.

Looking Ahead

Ruto reaffirms commitment to democratic principles, pledges continued collaboration between branches of government.

President Ruto reaffirms commitment to upholding democratic principles and pledges to foster collaboration between branches of government.

 

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