After bread, Ruto now targets milk, unga and sanitary towelsBuckle up Wanjiku! The controversial Finance Bill 2024 is just a taste of the painful tax measures that will affect essential items including milk, unga, pesticides, fertilizers, pesticides and sanitary towels. Of this amount, VAT tax expenditure amounted to Sh248.3 billion or 63.1 percent of the total estimate, a large erosion of the VAT tax base,” said Njuguna. Taxing exempt status products will affect prices of items such as unprocessed milk, infant milk, milk powder, insulin, sanitary towel and food supplements. They can take many forms, including tax exemptions; zero rating (Value Added Tax); tax deductions; tax offsets (or credits); and concessional tax rates.

Source: Daily Nation June 16, 2024 01:53 UTC