Webinar Recording | Kenya Budget Speech for the fiscal year 2024-2025

This morning CDH Tax & Exchange Control Partner's Alex Kanyi and Lena Onyango were joined by Ruth Kendagor, Head Researcher at Institute of Public Finance, and Julians Amboko, Business journalist at Nation Media Group to discuss Kenya's budget speech for the fiscal year 2024-2025 and the proposed tax measures in Finance Bill, 2024. Ruth started-off by breaking down the budget by sector and highlighted areas where the allocations were either increased or decreased. The general concern was about the government's ability to meet its ambitious revenue targets and how this will affect the budget deficit. The panel also discusses the recent shift in the Finance Bill towards indirect taxes. 

During the webinar, the panel also got to discuss the proposed amendments by the executive to Finance Bill, 2024 including the proposal to drop motor vehicle tax and the introduction of a threshold for eTIMs among others. The proposals are welcome but will have an impact on the government's budget and the panel is keen to see if the government will revise the budget for 2024/25.  

You can watch the full recording to learn more details about the budget and implications of the Finance Bill.