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The Institute of Certified Public Accountants has backed the VAT bill

18, Sep 2013

The government has received crucial backing on the contentious VAT Bill 2013 from Kenya's accountants. The Institute of Certified Public Accountants has backed the bill saying it the 16% flat rate will make it easier for businessmen to comply with the law in paying their taxes. Chairman Benson Okundi has also asked the Public to look at the bigger picture, saying that while they will feel the pinch of higher prices, the increased revenue for government will enable better service delivery in the long term. ICPAK has however challenged KRA to crack down on unscrupulous businessmen who have taken advantage of the new law to exploit consumers.