The proposed income and corporate tax cuts aimed at protecting the economy against the effects of the coronavirus pandemic will cost the Kenya Revenue Authority (KRA) Sh1.3 billion daily over the next three months, Parliament’s budget office has warned.
The Parliamentary Budget Office (PBO) — the unit which advises lawmakers on financial, budgetary and economic matters — said revenue collection will drop by Sh122.2 billion between April and June if lawmakers adopt the tax cuts.
