National Treasury CS Prof. Njuguna Ndung’u has issued a stark warning to the National Assembly regarding the potential repercussions of not passing the Finance Bill 2024. In a letter dated June 19, 2024, the CS outlined the severe budget implications that would arise from failing to approve the bill, which is crucial for the 2024/25…
In a vibrant display of culture and talent, the National Treasury Choir performed at the National Treasury Buildings just before the much-anticipated release of the 2024/25 budget estimates by Cabinet Secretary Prof. Njuguna Ndung’u. The performance added a festive atmosphere to the significant fiscal event. Details: The event marks the anticipation and preparation leading up…
Prof. Njuguna Ndung’u, the Cabinet Secretary for National Treasury and Economic Planning, has addressed the complexities of Kenya’s budget and the challenges it presents. He highlighted the “trilemma” faced by the government in balancing spending, debt, and taxes to finance essential services and development projects. Details: In his remarks, Prof. Ndung’u explained that discussions about…
The National Treasury has proposed a 16% Value Added Tax (VAT) on bread, with a 400g loaf expected to rise by at least Sh10 under the Finance Bill 2024. This move could lead to increased prices for consumers and has sparked discussions on its potential impact.
The Kenyan government has announced plans to eliminate double taxation with Belarus, signifying a significant step in enhancing economic ties between the two nations. Spearheaded by the National Treasury on behalf of President William Ruto’s administration, the Double Taxation Agreement (DTA) aims to avoid taxing the same income in both countries. This development comes as…
