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- Treasury Cupboard Secretary Njuguna Ndung’u stated the agriculture sector was undertaxed, but it’s the highest employer
- In a medium-term tax technique, Ndung’u has proposed the introduction of a withholding tax on all farm produce
- If the proposal is accredited by Members of Parliament, farmers pays KSh 5 for each KSh 100 they make
Amos Khaemba, a journalist at TUKO.co.ke, brings over three years of expertise protecting politics and present affairs in Kenya.
Nairobi – President Willam Ruto’s administration is about to introduce new taxes focusing on all Kenyan farmers to lift extra income.
Supply: Fb
Citizen TV reported that the Kenya Kwanza administration now needs each farmer to pay a withholding agricultural produce tax at a price no more than 5% of the worth of the produce delivered to the market.
Treasury Cupboard Secretary Prof. Njuguna Ndung’u, in a medium-term income technique, needs each farmer delivering their produce to the markets to pay KSh 5 for each KSh.100 obtained from gross sales.
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In accordance with CS Ndung’u, the agricultural sector is undertaxed, but it is the very best employer in comparison with different sectors.
“The Kenyan financial system depends on the agricultural sector, contributing a mean of 21.2% of the GDP and the very best employer in comparison with different sectors,” the doc by Ndung’u says.
The Treasury CS acknowledged that the agriculture sector has distinctive challenges, corresponding to being extremely casual, which could make taxation troublesome.
Nevertheless, the CS stated the federal government will put in place correct mechanisms to lift most taxes from Kenyan farms.
The CS stated the Kenya Kwanza administration will intensify taxpayer schooling to make sure that taxpayers perceive their position in nation-building and the necessity to pay taxes.
Supply: TUKO.co.ke
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