In July, the IMF approved close to $1 billion in new loans to Kenya, rewarding the government for implementing a host of new taxation measures closely advised by the Fund.
The new tax regime – enshrined in President Ruto’s Finance Act – includes doubling value added tax (VAT) on fuels from 8 to 16 per cent, raising taxes on food, mobile money transfers, digital content creation and salaries, “rationalising” public sector employment, as well as taking a levy from all employees and employers to fund a problematic public-private partnership for “affordable” housing.
Source: www.brettonwoodsproject.org
