IMF in new tax onslaught on wealthy Kenyans, massive buyers

A number of tax incentives and exemptions handed out to the ultra-wealthy and enormous buyers previously decade are undermining Kenya’s ambition to develop revenues. CONCEPT | SHUTTERSTOCK

A number of tax incentives and exemptions handed out to the ultra-wealthy and enormous buyers previously decade are undermining Kenya’s ambition to develop revenues, the Worldwide Financial Fund (IMF) has mentioned.

The IMF, in a brand new evaluation of tax coverage and administrative modifications within the East African Group international locations, says that Kenya’s tax-to-GDP ratio has been on a downward trajectory since peaking in 2014 after the nation carried out insurance policies which have ended up narrowing the tax base.

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