×
App Icon
The Standard e-Paper
Home To Bold Columnists
★★★★ - on Play Store
Download Now

IMF acid test for Mbadi's plan to cut taxes in the next budget

Vocalize Pre-Player Loader

Audio By Vocalize

National Treasury CS John Mbadi during his vetting as the CS. [Elvis Ogina, Standard]

In a surprising announcement, the government has unveiled a new proposal to reduce controversial taxes, a move that could provide much-needed relief to citizens but raises concern about the government's ability to manage public debt.

Newly appointed Cabinet Secretary John Mbadi revealed plans to cut the value-added tax (VAT) from 16 per cent to 14 per cent, decrease corporation tax from 30 per cent to 25 per cent, and lower pay-as-you-earn (PAYE) rates, although specific details on the latter tax remain unspecified.

Get Full Access for Ksh299/Week.
Fact‑first reporting that puts you at the heart of the newsroom. Subscribe for full access.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
Enterprise
When fundamentals are stable but the patient is terrified
Business
CMA extends Kenya Pipeline Company IPO deadline to February 24
Enterprise
Why services sector offers best bet for jobs, economic development
Enterprise
Beyond the cloud: How US firm has built muscle in the digital world