IMF Recommends Tax Reforms for Kenya Development

The International Monetary Fund (IMF) has issued new tax advisories for Kenya, emphasizing the need to strengthen tax capacity to address declining tax-to-GDP ratio and increased debt service to revenue ratio. The IMF aims to assist Kenya in widening the tax base, improving tax equity, enhancing transparency, accountability, and anti-corruption efforts. President William Ruto's administration faced pressure from anti-government protests leading to the withdrawal of the Finance Bill 2024. IMF is reassessing Kenya's economic situation, including recent events, to make necessary adjustments and support the country's economic growth and well-being of its citizens.