Captains of industry raise concerns over proposed tax hikes

Kenya Association of Manufacturers (KAM) Trade and Tax Committee Chairman Brahat Shah and CEO Anthony Mwangi present their views during the public participation on the Finance Bill, 2024 before the National Assembly Finance Committee at Hilton Gardens Hotel, Machakos on May 29, 2024 [Boniface Okendo, Standard]

Chief executives of various industries have voiced their concerns about Finance Bill 2024 that has sparked anger, particularly among consumers and businesses.

The Kenya Association of Manufacturers (KAM) called the tax proposals in the Finance Bill "unreasonable" and "overburdening" to the taxpayers. KAM Chief Executive Anthony Mwangi warned that excise taxes on upstream production would stifle the manufacturing sector, which is the engine of job creation and export revenue.