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National Treasury

Tax target slashed by Sh81bn on slower growth concerns
Business

Tax target slashed by Sh81bn on slower growth concerns

Income tax has taken the biggest cut, with the projected collection reduced by Sh78.6 billion from Sh1.384 trillion to Sh1.305 trillion. The income tax category, which includes corporate taxes paid on profits as well as Pay As You Earn (PAYE) deducted from workers' salaries and wages, remains the largest source of the expected revenue decline.

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Treasury says Kenya to meet debt limit in 2028
Business

Treasury says Kenya to meet debt limit in 2028

The Treasury told the National Assembly's Public Petitions Committee that the present value of public debt is projected to reduce from 63.7 per cent of Gross Domestic Product (GDP) to the legal ceiling of 55 per cent over the next two years as the government's fiscal reforms continue to take effect.

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Senate ends push for more time on county pension task force
News

Senate ends push for more time on county pension task force

Documents presented to the committee showed that county pension obligations have continued to grow over the years. The Treasury said the liabilities rose from Sh21.3 billion inherited from the former local authorities before the start of devolution to Sh115.7 billion as at October 31, 2024.

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