Consumption taxes growth declines to eight-year low

Growth in consumption taxes has slumped to the lowest level in eight years, revealing the effect of contained spending amidst inflationary pressures and higher taxation.

Data from the Kenya National Bureau of Statistics (KNBS) shows tax collections from products grew by a paltry 2.8 percent in the third quarter ended September 2023, the lowest expansion since a comparable quarter in 2015.