Tax amnesty offers apt opportunity to start off on a clean slate

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Every year when the Cabinet Secretary for National Treasury takes to the floor of the August House to table new budget proposals, the country follows the proceedings with unabated optimism. While delivery of the annual budget is a mixed bag, there is always hope of a tax policy here or there that will lessen the tax burden and in the long run, make tax payment a worthwhile experience.

When the 2023/2024 budget was tabled in the National Assembly on June 15, 2023, it lived up to this expectation after it, among other proposals, proposed the introduction of a tax amnesty program that would see penalties and interest on principal taxes accrued for periods running up to 31st December, 2022 waived.