Hidden pain in financing Jubilee’s bag of goodies Kenya: Prepare to pay more for food, fuel, cosmetics, toothpaste, and beer and all imported goods to enjoy the bag of goodies spelt out in President Kenyatta’s government. As predicted in The Standard yesterday, the real pain of this year’s budget is in the Value Added Tax (VAT) Bill that is coming to Parliament next week. In what is set to make life painfully expensive for consumers, the Government has proposed to retable the controversial VAT Bill that will see Kenyans spend at least Sh16 more for every Sh100 spent on maize flour, milk, bread, fertilizer, computers, books, wheat flour, livestock feed, pesticides and books. To lift 10 million people out of poverty and to support a new devolved system of government that created 47 new local government units, Treasury also plans to slap a 16 per cent tax on sanitary towels, newspapers, insecticides, locally assembled water pumps and gin cotton. standardmedia.co.ke/?articleID=2000085953&story_title=hidden-pain-in-financing-jubilee-s-bag-of-goodies&pageNo=2
Posted on: Fri, 14 Jun 2013 05:39:59 +0000
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