The 2021/22 Kenya Budget  estimates were presented by National Treasury Cabinet Secretary Ukur Yatani on June 10th before Parliament.

This year’s budget has increased by 9% from Ksh 3.36 trillion (2020/21) to Ksh 3.66 trillion.

Total expenditures for the 2021/22 financial year are projected to be at Ksh3.03 trillion (24.5% of GDP) as compared to Ksh2.89 trillion (25.8% of GDP) for the 2020/21 financial year.

CS Yatani proposed the following measures to raise revenue for his second budget include:

  1. Imports of vegetable products to attract 30%  duty rate for the next one year
  2. Excise duty on nicotine products at Ksh5 per gram
  3. Digital Service Tax: Income tax expanded to include internet and electronic products.
  4. Amendments of custom duty to raise Ksh8.7 billion to the exchequer.
  5. Reintroduction of excise duty on betting at the rate of 20% of the amount wagered
  6. Solar power generation equipment exempted from VAT
  7. VAT exemption for laboratory reagents and lab equipment
  8. Sanitizers, ventilators, masks duty free for the next one year
  9. Imports used in manufacture of ventilators VAT exempted
  10. Removal of excise duty on locally assembled motor vehicles, duty-free importation of Completely Knocked Down kits and reduced corporate tax from 30 to 15% for the first five years of operation.

 

BUDGET STATEMENT by CS Yakur Yatani FY 2021/22  Theme: “Building Back Better: Strategy for Resilient and Sustainable Economic Recovery and Inclusive Growth”.

KENYA FY-2021-22-Budget-Statement

DELOITTE Kenya Budget Highlights :Navigating new realities June 2021

Deloitte 2021 KENYA BUDGET HIGHLIGHTS – FINAL

KPMG BUDGET BRIEF 2021/22 :Building back better – Strategy for resilient
and sustainable economic recovery.

KPMG Budget-brief-2021-22-Kenya-final

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