Last year, the finance bill 2024 was perhaps the most controversial and fiercely rejected from even awkward quarters, the Gen X’s. it costed the country many lives distorting future prospects on our young university students. The government addressed some of the contested matters . However, life continued nevertheless and another bill is here! The finance bill 2025 carry the bold changes: new digital taxes, vehicle levies and green focused fees. For developers,enterpreneurs and environmentalists, its not just a tax shake-up, its a wake up call and a unique business opportunity as well. The main changes introduced include; the eco levy-kshs.150 per kg of plastic packaging-and other environmental taxes show a clear shift towards sustainability. As the government pushes for greener practices, the demand for eco-friendly solutions is about to surge.
The main key highlights for the tax proposals are:
>It contains an increase of digital tax on no residential platforms from 1.5% to 6%.
>There is a proposal to rise the VAT threshhold from kshs. 5 million to 8 million in favour of SME’s.
>It introduces a new tax,eco levy on plastics at kshs.150 per kg of plastics.
>Green tech is now taxable
>It contains a proposal for KRA to access personal data/information. The data might not be limited to taxation. There are no safeguards on the use or custody of such data.
Kenyans expect:
#Measures for the enhancement of the fight against corruption
#Enhancement of public-private partnerships
#Privitization of parastals
#Priotization of impactful projects
#Reduction of public health.
The cloud remains the cloud,dark and heavy,but we see the silver lining. Yes,costs may rise,but so do green opportunities-new markets in eco packaging,carbon credits,and sustainable housing.