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Kenya to halt yearly inflation adjustment on excise taxes
Nearly 16 percent of the urban population rely on bottled water compared to less than one percent of the people living in rural areas. FILE PHOTO | SHUTTERSTOCK
The government is set to pause the annual adjustment for inflation on specific excise taxes in new proposals meant to make the duty more predictable for manufacturers and consumers.
A brief from the State House on Thursday indicated that the Treasury will in the Finance Bill 2023 ask Parliament to stop the Kenya Revenue Authority (KRA) from making the adjustment, which was introduced in 2018 to protect the government’s spending power from erosion by rising cost of living.
