Sheila Mate is Principal Consultant at Viva Africa Consulting LLP (Nairobi).
Sheila MATE
Principal Consultant, Viva Africa Consulting LLP
Principal Consultant, Viva Africa Consulting LLP
Sheila Mate is Principal Consultant at Viva Africa Consulting LLP (Nairobi).
Kenya - Finance Bill 2022 - On Thursday 7 April 2022, the Cabinet Secretary for Finance, Hon. Ukur Yatani read The Finance Bill, 2022 (“the Bill”) before Kenya's National Assembly/Parliament. Kenya's citizenry received the Bill with mixed reactions, with some stakeholders describing the proposed tax changes as progressive and reformist whilst others assessing the tax burden being placed on the population as immense. If passed, the proposed tax changes will come into effect on either 1 July 2022 or 1 January 2023. With a projected revenue of Kenya Shillings 2 Trillion (approximately Euros 16.3 Billion), the Government of Kenya tabled the Bill to propose various tax measures expected to raise additional revenue of Kenya Shillings 50.4 Billion (approximately Euros 411 Million) in the year 2022/2023. The changes proposed in the Bill can be broadly categorised under the themes, ‘Expanding the tax base', ‘Promoting investment in the Big 4 Agenda', ‘Aligning tax legislation to global trends', and ‘Streamlining tax administration'.