The Treasury is targeting top income earners, M-Pesa transactions and fuel consumers to raise an additional Sh364 billion in taxes for the new budget in a revenue collection plan that will see workers’ pay, already ravaged by inflation, shrink further.
The top income tax rate will rise to 35 percent from 30 percent for workers earning above Sh600,000, who will pay an additional tax of at least Sh5,000 monthly.
