The Finance Bill 2024 has introduced various tax reforms that have sparked debate among multinational companies operating in Kenya. Such unpredictability, exemplified by abrupt tax rate changes or the introduction of new taxes, directly impacts the core structures of businesses. Committee members, led by Umul-Kheir Kassim (Mandera Woman Rep), called for regular stakeholder engagement post-approval of the Finance Bill to assess the impact of the law on the economy. “Do not just engage with us during the consideration of the Finance Bill. Let us engage regularly to assess the impact of the approved law so it can inform how we approach the next Finance Bill,” she urged.

Source: Daily Nation June 07, 2024 21:03 UTC