Key highlights of KES 2.3 trillion 2016/2017 Budget
09 June 2016, 10:50
Nairobi - Here are the key highlights of the KES 2.3 trillion budget presented by Treasury Cabinet Secretary Henry Rotich on Wednesday for the year 2016/17:
- CS Rotich introduces 20 per cent flat rate on the value of the vehicle rather than the flat rate of KES 200,000 aimed at easing burden on importers of small cars.
-Taxes on Liquefied Petroleum Gas (LPG) commonly known as gas removed to reduce smoke related ailments.
-CS plans to raise taxes worth KES 1.5 trillion up from KES 1.3 trillion in the last financial year, and broaden tax base by simplifying excise duty and tax procedure Act.
-Mr Rotich introduces 10 per cent tax on local cosmetics.
Read Also: Govt introduces excise duty on kerosene to curb fuel adulteration
-Security gets boost with allocations of KES 124bn to Defence & NIS, KES 140 billion to Interior Ministry for our security
-EACC gets KES 2.8 billion to help fight and eradicate corruption.
-Local tourism has been eased with Mr Rotich slashing taxes on park fees.
-Total government allocation for health for the financial year 2016/17 is KES 60.269 billion.
-KES 2.747 billion will go to intern doctors, BAC nurses & BAC clinical officers. KES 1.7 billion will go to KEMRI.
-KES 21 billion to go to youth empowerment programmes which will be supported by World Bank.
- Tax Rebate scheme for employers who train youth for between six to 12 months.