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The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, Kenya plans to be a newly industrialised nation by 2030.
After their stunning success forcing the government to shelve $2.7 billion in tax hikes, young Kenyan activists are setting their sights higher, taking aim at deeply ingrained corruption and ...
Kenya's Court of Appeal on Wednesday declared the government's 2023 finance law unconstitutional, inflicting a new blow to the government of President William Ruto who withdrew this year's finance ...
Kimani Kuria, chair of the Kenyan parliament's finance committee, said the committee recommended amending the government's funding bill for the 2024/25 fiscal year to remove a new tax on car ...
Given that the Finance Bill 2024 was a direct reaction to the demands of the International Monetary Fund and resulting overwhelmingly negative reactions directed at the institution during the protests, IMF's communications director, Julie Kozack apologized to the Kenyans for the resulting bloodshed but reiterated that austerity measures and a ...
Amidst protests, the Kenyan government scrapped parts of the bill on 18 June 2024. According to Kuria Kimani, chairman of Kenya’s Finance and National Planning Committee, the proposed tax increases that were scrapped included a 16% value-added tax (VAT) on bread, as well as taxes on motor vehicles, vegetable oil, and mobile money transfers. [26]
Kenyan President William Ruto said Wednesday that he will not sign the 2024 finance bill that had sparked deadly protests in the country and left at least five people dead.
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