{"id":73041,"date":"2022-11-02T14:33:17","date_gmt":"2022-11-02T14:33:17","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes"},"modified":"2022-11-02T15:01:36","modified_gmt":"2022-11-02T15:01:36","slug":"ruto-mps-set-ball-rolling-for-downward-review-of-taxes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes","title":{"rendered":"Ruto MPs set ball rolling for downward review of taxes"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The Finance Committee of the National Assembly has revealed plans to review taxes charged on various commodities in efforts to bring down the high cost of living.<\/p>\n

Molo MP Francis Kimani Kuria, the newly elected chairman of the committee, said the review would be the committee\u2019s first priority.<\/p>\n

\u201cIn lieu of the high cost of living, we are looking, in consultation with our leaders, what are these taxes that are leading to the increase in the cost of living,\u201d he told the Star on Wednesday.<\/p>\n

Kimani, an ally President William Ruto, said the committee would do a breakdown of the particular taxes and \u201csee what is it that increases the cost by how much and at what rate.\u201d<\/p>\n

The Star has established that the fuel taxes, excise duty on heavily consumed goods, and levies believed to be counterproductive would be considered in the review.<\/p>\n

\u201cThis will help us make decision on what steps we need to take to bring down the cost of living,\u201d the lawmaker said.<\/p>\n

Presently, motorists are charged eight per cent tax on fuel products.<\/p>\n

The Kenya Revenue Authority also recently increased excise duty on various basic commodities, worsening the cost of the living crisis.<\/p>\n

Kimani said the steps stem from the observation that increment of taxes has ended up reducing the amounts collected from the said tax heads.<\/p>\n

\u201cThe laffer curve (an economics theory) says that when you increase the rate of tax beyond a particular rate, you don\u2019t collect more, you collect less.\u201d<\/p>\n

\u201cThat is where we are in many sectors,\u201d Kimani said, adding that his team would change the \u2018wrong notion that for you to collect more taxes, you have to increase the tax rate.\u201d<\/p>\n

\u201cThis never works. Because when you increase tax rates to a particular level – beyond the laffer curve, you collect less. That is what we are looking at,\u201d he added.<\/p>\n

The committee is set to hold meetings with stakeholders, including manufactures to actualize the plan.<\/p>\n

\u201cSome of the manufacturers say they want to pay more taxes and they know how they can raise more. We realized that we have not been listening to them,\u201d he said.<\/p>\n

\u201cThis is an engagement we are going to have with stakeholders to ensure that the taxes we levy will not chase away investors but make the country attractive.\u201d<\/p>\n

The lawmaker added that the review would be in line with Ruto\u2019s promise to ease the burden staged by the high prices, which have been attributed to taxation.<\/p>\n

On this, Kimani said, \u201cWe will deliver the promises in the Kenya Kwanza manifesto where we said we are going to bring down the cost of living and make it easier to do business.\u201d<\/p>\n

\u201cAfter that analysis, we are going to that work properly and procedurally. We will reintroduce a tax amendment bill to ensure the laws that are passed stand the test of integrity, public good.\u201d<\/p>\n

\u201cWe are going to bake more cake in terms of revenue collection. This is going to be our first priority,\u201d the MP explained, adding that they would also review tax measures which the courts have annulled.<\/p>\n

Kimani stated that the committee would reconsider some of the legislative proposals with a view to regularizing them.<\/p>\n

\u201cPart of the reasons Kenyans have taken us to court is on how the bills were done, some were hurried therefore lacked public participation, and others declared unconstitutional.\u201d<\/p>\n

Ruto\u2019s administration has pledged to reduce the cost of living within a year, citing the cash flow crisis in the country as having slowed their earlier plan to address the issues in 100 days.<\/p>\n

A team of experts advising parliament on matters economics have observed that tough times await Kenyans owing to the ravaging drought and the external factors affecting trade.<\/p>\n

\u201cIt is noted that drought mitigation, fertilizer subsidy and stocking up food reserves were not adequately prioritized in the 2022\/2023 budget,\u201d the Parliamentary Budget Office said.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. The Finance Committee of the National Assembly has revealed plans to review taxes charged on various commodities in efforts to bring down the high cost of living. Molo MP Francis Kimani Kuria, the newly elected chairman of the committee, said the review would be the committee\u2019s first priority. \u201cIn lieu of the […]<\/p>\n","protected":false},"author":84,"featured_media":73039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[6857,7003,544],"class_list":["post-73041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nRuto MPs set ball rolling for downward review of taxes - kenya<\/title>\n<meta name=\"description\" content=\"The Finance Committee of the National Assembly has revealed plans to review taxes charged on various commodities in effo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruto MPs set ball rolling for downward review of taxes\" \/>\n<meta property=\"og:description\" content=\"The Finance Committee of the National Assembly has revealed plans to review taxes charged on various commodities in effo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-02T14:33:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-02T15:01:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/11\/postQueueImg_21.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ruto MPs set ball rolling for downward review of taxes\",\"datePublished\":\"2022-11-02T14:33:17+00:00\",\"dateModified\":\"2022-11-02T15:01:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\"},\"wordCount\":673,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/11\/postQueueImg_21.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-mps-set-ball-rolling-for-downward-review-of-taxes\",\"name\":\"Ruto MPs set ball rolling for downward review of taxes - 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