IMF backs amendments to VAT law

The IMF has backed the recent amendments to the VAT law, arguing that they are necessary help the Treasury plug the huge national budget deficit and also raise cash for development and social expenditure.

The International Monetary Fund (IMF) told the Business Daily in an interview that the changes in the law had put Kenya in line with other modern VAT regimes in the world by simplifying the way it operates while reducing the number of exempt items, which had made it difficult for the taxman to implement.