Ruto Waives Penalties on Pending Taxes
On Monday, President William Ruto waived accrued penalties on taxes due before January 1, 2023.
Concerns were raised by Kenyans who were entrapped by accrued interest, according to the president, so it was necessary to address the issue.
“From September 1, 2023, to June 2024, you will have the opportunity to settle only the principal tax amount of outstanding tax debts incurred before January 1 2023 as we are waiving penalties and interests over the nine-month period,” Ruto announced.
During the official inauguration of the Central Bank of Kenya’s (CBK) Dhow Central Securities Depository (CSD), he praised the CBK’s efforts to streamline its systems.
Ruto added that the exemption will lighten the load on Kenyans and is consistent with the government’s plan for a fair and inclusive economy.
“We are now making an offer to our taxpayers to have an opportunity to only pay the principal. I expect the taxpaying public will take advantage,” he remarked.
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The Head of State also remarked that the Finance Act 2023 instituted the Tax Payer amnesty program for penalties and interests accrued as of December 31, 2022.
According to Ruto, the amnesty program will alleviate the financial burdens of taxpayers and promote economic development and inclusiveness.
Ruto also emphasized that, with the assistance of relevant bodies, the government will collect sufficient taxes to be self-sufficient.
The President has advocated for efficient and trustworthy methods to collect revenue from government institutions and eliminate intermediaries.
He accomplished this by introducing the single-pay bill number 222222 and mandating that all government services be available on the eCitizen platform.
“Mobile money pay bill numbers are a convenient and secure way for the government to collect payments from those seeking services. We must shut down the rest of the Pay Bill Numbers and remain only with one to channel all the money to the government through Treasury,” he announced in June.
Ruto Waives Penalties on Pending Taxes
