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Truth Without Fear
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Tax experts, bankers and financial inclusion advocates in Kenya are expressing concern about the proposed implementation of value-added tax (VAT) on various banking services contained in the Finance Bill 2024.
The Kenya Bankers Association (KBA) said the new proposal will mean the outlined financial services will attract a VAT charge of 16 per cent if the Finance Bill 2024 is enacted, putting more financial burden on the bank customer.
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