Raila Odinga, the leader of the Azimio political party, has voiced strong criticism against President William Ruto's Finance Bill 2023. During a press briefing held on Tuesday, Raila expressed his concern that the finance bill disproportionately burdens the middle-class population.
Raila highlighted that the provisions within the bill impose significant financial strain on middle-class individuals. He emphasized the need for a more balanced approach that takes into account the economic realities faced by this particular segment of the population.
By raising these concerns, Raila Odinga aims to draw attention to what he perceives as the negative impact of the finance bill on the middle class, advocating for a fairer and more equitable financial framework.
“The Bill prepared by Kenya Kwanza government is a punishment that Kenyans cannot and should not entertain, the Bill proposes amendments for various tax statutes including Income Tax Act, Value Added Tax, Tax Procedures Act, and Miscellaneous Fees and Levies Tax among other laws,” he said.
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The leader of the opposition has expressed concerns regarding the potential repercussions of various tax measures proposed by the government. These measures, intended to support local businesses, preserve employment opportunities, and enhance the manufacturing sector, have raised alarms for taxpayers.
As outlined in the Finance Bill 2023, the government has suggested implementing additional taxes on imported commodities like steel, paper, plastics, and paints. The objective behind these levies is to encourage the growth of domestic industries and reduce reliance on imports.
Additionally, the Bill proposes the imposition of an export and investment promotion levy on all personally imported goods listed in the Third Schedule of the Miscellaneous Fees and Levies Act, 2016. This measure aims to bolster exports and stimulate investments.
However, the opposition leader has highlighted concerns regarding the potential negative impact these tax measures could have on taxpayers. The consequences of these proposed levies, particularly on the cost of living and affordability, are areas of particular worry for the opposition.
The opposition leader's remarks reflect a critical perspective on the government's tax proposals, emphasizing the need for careful consideration of their potential effects on taxpayers and the overall economy.
