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summarize all sections of the finance bill 2024

The Finance Bill 2024 in Kenya introduces several significant tax changes:

1. Motor Vehicle Tax

2. Withholding Tax on Goods Supplied to Public Entities

3. Taxation of Income from Operation of Digital Marketplace

4. Implementation of Pillar Two Global Minimum Tax

5. Changes to Retirement Fund Registration

6. Excise Duty on Financial and Telecom Services

7. Increased Revenue Target

These changes are intended to enhance revenue collection, promote fairness in the tax system, and align Kenya's tax policies with international standards. However, they have also sparked debate and discussion regarding their potential impact on businesses and individuals. (Source: https://kpmg.com/ke/en/home/insights/2024/05/kenya-finance-bill-2024-analysis.html ↗)

Answered by mwakili.com


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