Ruto's 'no-tax Finance Bill' to raise cost of affordable housing project

President William Ruto interacts with construction workers during the inspection of the ongoing construction of the 4,566-unit Shauri Moyo B Affordable Housing Project in Kamukunji Constituency, Nairobi, in March this year. [PCS]

President William Ruto’s “no-taxes Finance Bill" has hit one of his pet projects after it proposed to remove tax exemptions on materials used for the construction of affordable houses. 

On the flipside, the Bill has proposed lowering the Export and Investment Levy on certain construction products to five per cent from 17.5 per cent, seen as a move to lift the construction industry that was on consistent decline last year, contracting for two consecutive quarters.