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Originally published by Capital News
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May 21, 2026
1h ago

Finance Bill 2026 focused on revenue collection, not economic growth, tax expert warns

Finance Bill 2026 focused on revenue collection, not economic growth, tax expert warns

A KPMG East Africa tax expert has warned that Kenya’s proposed Finance Bill 2026 focuses more on raising revenue than stimulating economic growth or easing the cost of living...

✨ Key Highlights

A Kenyan tax expert has warned that the proposed Finance Bill 2026 is primarily focused on increasing government revenue collection rather than stimulating economic growth or alleviating the cost of living for citizens.

  • The government aims to raise an additional Sh120 billion through the bill.
  • Kiema Onesmus, an Associate Director for Tax and Regulatory Services at KPMG East Africa, voiced these concerns.
  • Onesmus criticized proposals like a 16 percent VAT on digital transactions and reduced incentives for electric vehicles, suggesting they could negatively impact financial inclusion and green energy adoption.

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