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Taming runaway tax expenditure
Addressing the challenges posed by high excise taxes and illicit trade requires a multi-faceted approach that combines fiscal, regulatory, enforcement and public awareness measures. PHOTO | SHUTTERSTOCK
Tax revenue is the main source of finance for most governments globally. It is even more critical in countries that do not have major non-tax sources of revenue such as Kenya.
In the absence of sufficient tax collections, the government mainly relies on debt to finance its budget obligations. There has been a growing concern about Kenya’s debt level, and this has jolted the government into action to ensure long-term debt sustainability.
