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MPs back plan to tax infrastructure, green bonds
The Chairperson of National Assembly Finance and National Planning Committee Kimani Kuria and a section of members of parliament addressing the press conference at Parliament buildings Nairobi on June 18, 2024.
MPs have backed the Treasury’s proposal to start taxing infrastructure and green bonds, even as financial experts warn that bond tax exemptions granted to large institutional investors will limit the benefit of the new levy to the Exchequer.
The Finance Bill 2024 has called for the introduction of a five percent withholding tax for residents and 15 percent for non-residents on infrastructure and green bonds that have a maturity of at least three years and that are issued after June 1, 2024.
