President William Ruto plans to exert even more pressure on the new proposed Taxes outlined in the Finance Bill 2024.

The Treasury's proposed new taxes will raise an additional Ksh 323 billion in the upcoming financial year in an attempt to achieve total tax collections of Ksh 2.94 trillion.

Sure, here's a breakdown of the proposed tax changes in Kenya:

• VAT on bread: Bread will no longer be zero-rated and will attract a 16% VAT, potentially increasing its cost by at least Ksh 10 to Ksh 15 for a 400-gramme loaf.
• Increased M-Pesa, airtime, and data charges: Excise taxes on mobile money transfers, airtime, and data will rise from 15% to 20%. Alcoholic beverages: We will recalculate excise duties based on alcohol content, which could lead to an increase in taxes on spirits and wines. The excise duty on both unfiltered and filtered cigarettes will increase.
• Motor vehicle circulation tax: Motorists will be required to pay up to Ksh 100,000 annually to keep their vehicles on the road.
• Alternative tax proposals higher taxes on motorcycle imports, betting, and payments from government supplies or tenders. environmental tax on goods like mobile phones, TVs, and batteries. The tax applies to payments made from government supplies and earnings from digital marketplaces. The tax is considered an Economic Significant Presence Tax for Foreign Digital Service Providers.
•  There are other taxes onboard and increased VAT.