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Kenya eyes higher taxes on the rich to raise revenue

In his inaugural speech in parliament on 29 September, Ruto endorsed the introduction of higher taxes for the East African country’s richest citizens as his administration targets more tax revenues, while simultaneously lessening the burden on poorer citizens, traders, and employees during tough economic ties.

“The economic principles of equitable taxation require that the tax burden reflects ability to pay. This is best achieved by a hierarchy that taxes wealth, consumption, income and trade, in that order of preference,” Ruto told the House.

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