Gov't seeks tax policies in 7 key areas for Ruto's first budget

The government intends to focus on aggressive revenue mobilization to support the economic recovery strategy

Treasury CS Prof Njuguna Ndung'u with Kiharu MP Ndindi Nyoro during the launch of the budget preparation process for the FY 2023/24 & the Medium-Term Budget is currently underway at KICC.

Treasury CS Prof Njuguna Ndung’u is looking for tax policy proposals touching on agriculture and 6 other priorty sectors

Treasury Cabinet Secretary Prof Njuguna Ndung’u has invited Kenyans to submit their views on tax policy measures they would like the ministry to consider.

CS Ndung’u recently kicked off the preparation of the Finance Bill 2023 which will inform how the government collects and spends money in the upcoming 2023/24 financial year.

The cabinet secretary encouraged Kenyans to submit tax proposals that will facilitate the achievement of the government objectives which should support the economic recovery strategy and the country's economic blueprint Vision 2030.

Specifically, Treasury is looking for tax policy proposals touching on agriculture, micro, small and medium enterprise (MSMEs), economy, housing and settlement, healthcare, digital superhighway and the creative economy.

In addition, the proposals may include measures on regulatory reforms, revenue administration reforms, and any other measures that may enhance macroeconomic stability and reposition the economy on an inclusive and sustainable growth trajectory,” the notice from CS Ndung’u read.

He also explained that the submissions should be specific on the proposed amendment to the tax law, supported by a statement on the issue to be addressed and a clear justification for the proposed amendment.

The deadline for the submission of the tax proposals is December 16, 2022.

CS Ndung’u launched the Financial Year 2023/24 and Medium-Term Budget preparation process on November 9, 2022.

During the launch, he noted that revenue collection was recorded in all broad tax categories.

However, the good performance was overshadowed by the effects of the Russia-Ukraine conflict which put pressure on the prices of energy, food, and other commodities and pushed inflation to a high of 9.6 per cent by end of October 2022.

He added that the government plans to drive an aggressive revenue mobilization to create on additional revenues.

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