A majority of Kenyans are opposed to the proposals contained in the Finance Bill 2024, which outlines the taxation plans for the upcoming fiscal year scheduled to start on July 1.
The Infotrak report, released on Thursday, showed that 77 percent of Kenyans were pessimistic that the bill would have a positive effect on the current state of the economy, while only 13 percent were optimistic about its prospective benefits.
“Nearly 8 out of 10 say that whether it is passed, zero impact, so that should ring an alarm bell to our financial infrastructure that in as much as we pass these bills and there are acrimonies in passing them, Wanjiku do not feel that they really have a lot of impacts,” said Johvine Wanyingo, Research Manager at Infotrack.
Over half of the 1700 Kenyans surveyed in the opinion poll conducted between May 23rd and May 29th, 2024, were aware of the Finance Bill 2024 but harboured reservations regarding certain proposals.
Contentious issues highlighted include the proposal to impose a 16% VAT on basic commodities such as bread, which was rejected by 87% of respondents. Similarly, 87% of Kenyans opposed the introduction of VAT on financial transactions.
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Additionally, 81% rejected the proposed motor vehicle tax, while 83% opposed the suggestion of disclosing personal data by data controllers and processors for taxation purposes.
“Of those who consume bread, 87% reject the VAT on bread, and on financial transactions, only 4% support it, rejected by 86%,” Wanyingo added.
The poll also indicates that 63% of Kenyans believe the country is heading in the wrong direction, suggesting little to no improvement compared to the results of the past three surveys.
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