Raila labels Ruto’s tax plan ‘a disaster in the making’ » Capital News
NAIROBI, Kenya, Jun 8 — Azimio leader Raila Odinga has launched a scathing attack on the proposed Finance Bill 2024 terming it “a disaster in the making” as he warned it could cripple the economy.
Odinga, in a statement on Friday, asserted that the Finance Bill 2024 spelling out tax mobilisation efforts for the FY2024/25 is a regressive proposal worse than the previous and will have far-reaching effects on the economy.
”The Finance Bill 2024 fails the taxation dictums of predictability, simplicity, transparency, equity, administrative ease and fairness,” he stated.
“It is worse than the one of 2023, an investment killer and a huge millstone around the necks of millions of poor Kenyans who must have hoped that the tears they shed over taxes last year would see the government lessen the tax burden in 2024,” Odinga added.
The former Prime Minister, who discontinued his hardline anti-government stance after President William Ruto fronted him for the AU Commission Chairmanship, warned that Kenyans will suffer if the bill fails to undergo radical surgery.
The proposed bill has sparked a heated debate with parliament currently carrying out public participation to consider proposals by various sectoral players.
Commerce alliances led by Kenya Private Sector Alliance and human rights watchdogs including Transparency International have faulted the Bill.
The Bill seeks to introduce a compulsory eco-levy on locally manufactured plastic, an annual 2.5 per cent wealth tax on car owners, and additional commodity taxes.
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