The government has yet again embarked on taxing small and mid-size business owners on their turnover revenue. Taxes targeted at small-scale business owners.
ANC leader Musalia Mudavadi has come out to defend common Mwanachi against the newly introduced turnover tax of 3% imposed on business of whose revenue is less than Ksh 5 million.
This means that the Kenya Revenue Authority will be taxing Ksh 30 for every Ksh 1000 in sales. This isn’t on the profit. As it should be in every business.
Mudavadi argued that the government is oppressing the common citizens during this hard economic times’
He urged the government to switch concessionary loan which is less expensive than commercial loans which have the interest of more than 8% and has a shorter repayment period.
He further added that the government has to stop investing in infrastructural projects and divert its resources to the production sector that will yield more money to the economy and create jobs.
He, however, said that taxes are the main revenue to the government