World Bank Urges Kenya to Review Taxes to Aid Economy (Correct)

The World Bank has recommended a series of reforms it says will boost Kenya’s economy, accelerate job creation, and enhance business competitiveness.

They include reforms of value-added tax to remove exemptions for goods with low consumption by the poor and clearance of pending bills owed by the government to businesses, according to a report titled Africa’s Pulse.

It also proposes cutting corporate income tax to 25% from 30% and increasing dividend taxes. Other suggestions include reviewing export promotion levies, reducing corporate income tax exemptions, according to the report.

“The recommended policy packages combine fiscal and structural policies as well ...