Here are the details of Kenya’s record Sh3 trillion budget and how it will affect you
Treasury CS Henry Rotich is expected to table the country's Sh3.07 trillion budget for the 2018/2019 financial year.
The budget, which is the biggest Kenya has ever prepared, is likely to hit ordinary consumers and high-income earners hardest as the government looks to finance the Big Four legacy agenda.
The price of basic commodities such as unga (flour), milk, drugs is likely to increase thanks to a new policy that will see manufacturers of these products pass tax costs to consumers to recover their Value Added Tax (VAT).
Mr Rotich has already shown clear intentions of passing the cost to citizens through the Tax Laws (Amendment) Bill, 2018 which will see the a raft of basic commodities move from VAT zero-rated to exempt status.
High income earners
Others include vaccines for humans and animals, raw materials for pharmaceutical manufacturers and supplies to marine fisheries and fish processors. Households, farms and patients will bear the pinch.
High income earners are also targeted in the tax reforms with Mr Rotich proposing a top tax rate of 35 per cent on all income above Sh9 million per year.
Experts have warned about Treasury CS's new proposal, saying it will overburden the common mwananchi who is struggling to put food on the table.
Rotich has however defended the proposed amendment, saying tax breaks issued in previous budgets to manufacturers did not benefit consumers.
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