Finance CS Ukur Yatani reads the Budget of 2020/21 at the Parliament buildings, Nairobi. Prices of cooking gas, for instance, would jump from next month after the exempt-status on the Value Added Tax (VAT) was effectively lifted. SEE ALSO: Yatani bets big on jobs, taxes and loans to rescue limping economyEffectively, Yatani gave with one hand before grabbing an even bigger chunk using the other, meaning Kenyans have been left worse off after yesterday’s Budget. SEE ALSO: Yatani gives with left and grabs more with the rightIt follows soaring resource needs which have today been compounded by the Covid-19 whose implications on the economy have been depressed consumption and lost incomes. Yet, Yatani has stepped up his pursuit of raising revenues through taxes by successfully pushing through Parliament proposals of the minimum tax which is levied on revenues rather than profits.

Source: Standard Digital June 11, 2020 16:56 UTC