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Firms welcome scrapping of some taxes, want more cuts

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Kenya Private Sector Alliance (Kepsa) chief executive Carole Kariuki speaks during a presser in August 2022. [Wilberforce Okwiri, Standard]

The private sector has welcomed the scrapping of the 10 tax proposals by the government as had been contained in the Finance Bill 2024 for the financial year 2024-2025.

President William Ruto on Tuesday bowed to pressure from Kenyans and said some tax proposals have been scrapped, including a 16 per cent value-added tax on bread, on transportation of sugar, and on financial services and foreign exchange transactions.

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