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Treasury cuts Sh334bn tax target for new Finance Bill
Protesters during the anti-finance bill demonstrations along Kenyatta Avenue in Nairobi on June 20, 2024. The deadly protests forced the government to withdraw Finance Bill 2024—which planned tax increases.
The Treasury has slashed its tax target for the next financial year by Sh334 billion and cut spending in changes that point to government hesitance to raise taxes amid public anger.
The budget review and outlook papers show the exchequer expects to raise Sh2.96 trillion in the year starting next July from the initial target of Sh3.294 trillion set before deadly protests forced the government to withdraw Finance Bill 2024—which planned tax increases.
