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Finance Committeemembersdeclinetolower Railway Levy

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. committeemembersdeclinetolower-railway-levy.html
  Print publication without navigation Published in Business and Finance on by The Star
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  The National Assembly Finance and Planning Committee's report on the Tax Laws (Amendment) Bill 2024 recommends the levy to be capped at two per cent, 50 basis lower than the initial proposal of 2.5 per cent and higher than the current rate of 1.5 per cent.

The Finance Committee members in Kenya have declined to lower the railway development levy, asserting that the funds are crucial for the ongoing and future railway projects aimed at enhancing the country's transport infrastructure. Despite calls from various stakeholders to reduce the levy due to economic pressures on businesses and consumers, the committee emphasized the strategic importance of railway development for economic growth, job creation, and reducing road congestion. They argued that maintaining the levy would ensure the completion of key railway lines, including the Standard Gauge Railway (SGR) extensions, which are seen as vital for Kenya's long-term economic strategy. The decision reflects the government's commitment to infrastructure development despite the current economic challenges.

Read the Full The Star Article at:
[ https://www.the-star.co.ke/business/2024-12-05-finance-committee-members-decline-to-lower-railway-levy ]