The A-Z of new taxes in the 2024 Finance Bill

President William Ruto’s administration plans to spend Sh3.914 trillion in the new budget cycle that starts in July. To fund this plan, the government hopes to collect Sh3.354 trillion from taxes. This will be made up of Sh2.913 trillion as ordinary revenues while appropriations-in-aid is expected to net another Sh441 billion. 

Appropriations-in-aid is revenue received by state departments and retained to meet expenditures instead of being paid into the Consolidated Fund.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.