The President said he intends to raise the country’s average tax rate from 14 per cent to 16 per cent by the end of 2024 and aims for between 20 and 22 per cent by the end of his term in office. I want in my term, God willing, to leave it at between 20 and 22 per cent," Ruto said. Ruto’s remarks came barely a week after the introduction of the proposed Finance Bill 2024. The Finance Bill, 2024 was published on May 9 and is set to be subjected to public participation thereafter. One of the proposals is the introduction of a Motor Vehicle Tax, with a rate of 2.5 per cent of the vehicle's value.
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