Bankers push for uniform PAYE cut to boost economy
While welcoming National Treasury Cabinet Secretary John Mbadi's proposal to exempt workers earning up to Sh30,000 from PAYE and grant a 5 percent relief to those earning up to Sh50,000, KBA Chief Executive Officer Raimond Molenje said the approach would not generate sufficient e..
✨ Key Highlights
The Kenya Bankers Association (KBA) is advocating for a uniform Pay As You Earn (PAYE) tax cut across all income brackets, arguing that targeted relief for low-income earners will have a limited economic impact.
- KBA proposes a uniform 5 percent PAYE reduction across all income bands, capped at 30 percent for top earners.
- Key figures involved include National Treasury Cabinet Secretary John Mbadi and KBA Chief Executive Officer Raimond Molenje.
- The association estimates their proposal could inject Sh28 billion annually into the economy and stimulate up to Sh210 billion in economic activity.
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