New tax laws to impede development of sme’s

Dr. William Ruto’s plan about tax plan will disrupt business in many ways like increase the tax burden, discourage enterprise, impact on consumer spending and international competitiveness.

President Ruto’s tax plan if implemented will increase the tax burden. The small business owners will be affected by the proposed tax laws.

If the new tax laws are implemented it will impede development especially in the transport sector because the proposed law will increase VAT by 16% on vehicles. It will be practically impossible to buy cars if the new tax laws are implemented.

Small businesses will have a difficult time grow in the current business architecture as new taxes will practically make it hard for startups and SME’s.

STORY BY MELLEN BOCHABERI