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Three days from now, Kenyans will begin to feel the ramifications of Kenya Kwanza's tax regime when most of the clauses in the Finance Act 2023 signed into law on Monday, June 26, by President William Ruto come into effect.
The new law is expected to further push up the cost of living which analysts note is already unbearably high for many Kenyans. Among the goods whose prices are expected to go up beginning Saturday, July 1, including petroleum products, with Value Added Tax (VAT) of fuel having gone up to 16 per cent, from eight per cent.
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