President Ruto's Tax Reforms
President William Ruto on Thursday proposed the renaming of the Kenya Revenue Authority.
The President in his speech on Thursday during the opening of the 13th parliament said the renaming will be part of a culture change that will make its authorities friendly.
Further, the Head of State added that the move will help transform the way it executes its mandate during the assessment, collection, and accounting of government revenues.
In his proposal, the President wants the agency to be named Kenya Revenue Service.
"I am of the view that we should rename it the Kenya Revenue Service in line with the proposed transformation,” he said.
The President said his team will also propose new tax measures that will start moving the country in the right direction.
He insisted that his government will ensure the tax collected helps in solving the country's economic needs.
“I am committed and determined to ensure that our tax system is responsive to the needs of the economy,” he said.
The country's commander-in-chief observed that the current tax regime falls short of its taxing structure in terms of equitability, efficiency, and customer friendliness.
President Ruto went on to say that at the moment the authority is over-taxing trade and under-taxing wealth hence he plans to reform it for a better nation.
“We are overtaxing trade and undertaking wealth,” the rags-to-riches businessman told parliamentarians.
The government currently faces a huge KSh 900 billion budget deficit in the 2022/2023 financial year, to which President Ruto is committed to making tax reforms in a bid to stabilize the economy.
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