Members of Parliament raised an alarm Wednesday on the floor of the National Assembly over revelations that the government is losing up to Ksh.30 billion on tax exemptions.....CLICK HERE TO READ THE FULL ARTICLE>>>
In a statement tabled by Kiamba MP John Kawanjiku, the legislator questioned what he termed as irregular and illegal grants of tax exemptions to a company under the special operating framework agreement.
“As you are aware, the law provides that tax exemptions can only be granted to companies dealing with human vaccines,” read the statement.
The statement, referred to the committee on delegated legislation, notes that Blue Nile Rolling Mills Limited, a company that manufactures steel, was illegally granted tax exemptions.
“The committee on delegated legislation should tell this house under what circumstances the company was granted the exemptions.”
The lawmaker informed Parliament that the country is estimated to lose up to Ksh. 30 billion due to these tax exemptions.
The House also wants to know all the tax exemptions granted.
The concerns about taxes come amid the government’s efforts to push for more revenue measures to finance the 2024-25 budget, whose Finance Bill 2024 was rejected…CONTINUE READING>>
