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Treasury targets milk, bread tycoons in new tax plan
National Treasury and Economic Planning Cabinet Secretary John Mbadi addressing journalists on highlights of his first 50 days in office at Treasury building, Nairobi on October 16, 2024.
The Treasury is targeting producers of products like milk, bread and maize flour in a tax review that would deny the firms billions of shillings in refunds and keep the retail prices of the commodities unchanged.
Treasury Cabinet Secretary John Mbadi is proposing to move select commodities from a list of goods that are VAT [value added tax] zero-rated to exempt categories.
