Updated
Updated · Bloomberg · May 9
Kenya plans mobile phone and banking fee taxes
Updated
Updated · Bloomberg · May 9

Kenya plans mobile phone and banking fee taxes

8 articles · Updated · Bloomberg · May 9
  • The proposals seek nearly $1 billion, including a 25% excise duty on mobile phone imports, according to measures published on the National Assembly website.
  • Banking and transaction service fees would also face a levy under the plan, broadening revenue measures beyond imports and potentially raising costs for consumers and financial users.
  • The government says the taxes are aimed at cutting the fiscal deficit to its lowest level in a decade while addressing Kenya's debt pressures.
If scrapping a phone tax once boosted Kenya's revenue, why is the government now reintroducing a much higher one?
With a ballooning State House budget, can Kenya's new taxes solve its debt crisis without fiscal discipline first?