Treasury under pressure to cut top PAYE rate to 30pc
Nairobi, June 17 -- The National Treasury has been pressured to cut the top tax rate for pay-as- you- earn (PAYE) to 30 percent from the current 35 percent to lift the burden on low-income earners.
A review of public submissions to the National Assembly Committee on Finance and National Planning showed that the Treasury has also been asked to overhaul the PAYE tax bands and raise the personal relief offered from Sh2,400 per month to Sh3,000.
The review of the bands is, however, unlikely to be carried out in this year's Finance Bill based on the tasking analysis required before the overhaul.
"The Committee recommends that the National Treasury relooks at overhauling all the tax bands. With the increased contributions to the Social Healt...
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