Parliament will from today collect views from Kenyans on the proposed tax laws as the government seeks to raise additional revenue following the rejected Finance Bill 2024. The bills are Tax Laws (Amendment) Bill 2024, Tax Procedures (Amendment) Bill 2024, Public Finance Management (Amendment) (No.4 ) Bill 2024 and Public Finance Management (Amendment) (No4 ) Bill 2024. By targeting the technology giants, Treasury seeks to expand the tax base to cover all digital or online businesses. The Tax Procedures (Amendment) Bill 2024 seeks to extend the tax amnesty period to June 2025 and allow taxpayers to offset overpayments or refunds due against tax obligations. The changes are meant to cure a situation like the current case, where there is a stalemate on the Division of Revenue Bill.

Source: The Star November 18, 2024 01:55 UTC