Reprieve for low earners as Uhuru waives tax on bonuses
President Uhuru Kenyatta presents the "Employers Business Agenda" to Industrialisation Cabinet Secretary Adan Mohamed, during the official opening of the 2016 African Employers' Summit, in Naivasha. PHOTO | MACHARIA MWANGI |
He instructed the National Treasury to include in the 2016 Finance Bill sustainable measures for the implementation of the plan.
The President said youth unemployment is at a crisis level in Africa and described the problem as an existential threat for the continent.
Low income earners will be exempted from paying taxes on bonuses, overtime and retirement benefits moving forward, following President Uhuru Kenyatta’s directive to National Treasury.
The President said the directive is part of the drive to improve the living standards of Kenyans.
