HOUSING LEVY IS UNCONSTITUTIONAL
The 3 judge bench finds that the Finance Act 2023 amendment to Sec84 of the Finance Act amending the Employment Act introducing the Housing Levy is unconstitutional.
The levy lacks a comprehensive legal framework & is irrational.
The levy violates the principles of taxation & as contained in the Finance Act 2023 is discriminatory and unfair for making distinction between formal & informal sector thus creating unequal and inequitable principles & it is unconstitutional.
Housing Levy projected collections:
· 2023/24 - Kes 63.2 billion
· 2024/25 - Kes 70.0 billion
· 2025/26 - Kes 78.0 billion
Bench bars the government from collection of the levy.
Wangari Muikia: The world economy is grappling with the strain of various interconnected challenges. The impacts of #inflation, #climatechange, and the ongoing conflict in #Ukraine are exerting significant pressure on our economies. #MwangoSpaces @wangarimuikia @ExpertiseKE
Today on #MwangoSpaces we host a conversation on the state of the Kenyan Economy.
Guests:
— @wangarimuikia, MD Expertise Global
— @nderi_j from ABC Capital
Host:
— @Ramah_Nyang
Don't miss!
@wangarimuikia , the Managing Director of Expertise Global, excelled at the 2023 Marrakech Annual Meetings hosted by Morocco for the
@WorldBank and IMF. Her expertise contributions reached the prestigious Trade Panel. 🇲🇦🌍💼📚 #AM23#WorldBank#IMF#TradePanel#ExpertiseGlobal
@wangarimuikia the Managing Director of Expertise Global, excelled at the 2023 Marrakech Annual Meetings hosted by Morocco for the @WorldBank ank and IMF. Her expertise contributions reached the prestigious Trade Panel. 🇲🇦🌍💼📚 #AM23#WorldBank#IMF#TradePanel#ExpertiseGlobal
We're delighted to share that Wangari Muikia, our esteemed Managing Director, will be attending the prestigious Berlin Dialogue.🤝✨
Let's seize this chance for knowledge and collaboration!
#BerlinDialogue#ExpertiseGlobal#GlobalNetworking
🌟Exciting News🌟Wangari Muikia, our Managing Director, will attend the ODI Conference on Public Finance. 📊Her expertise will spark valuable discussions. Join us in supporting her mission to enhance financial practices. Stay tuned for updates using #ODIConference#PublicFinance
⭐️Thrilling news⭐️We’re thrilled to announce that Wangari Muikia, Managing Director of Expertise Global, is attending the 5th World Bank/IFS/ ODI Tax Conference to explore the Political Economy of Public Finances.
#ODIConference2023#PublicFinance#ExpertiseGlobal
Challenges faced are
1. capacity of countries and players
2. cost of trade prohibitive especially to SMEs
3. Risk mitigation
4. Political instability
5. Low manufacturing capacity
6. cost of currency convertibility
7. infrastructure deficit
8. engagement of private sector
at the @AfCFTA session at the @LotteHotels in #NewYork. SecGen @MeneWamkele mentions that an amazing 97% of goods will flow across african counties customs free. the remaining 3% is about 140- 150 goods mostly which are arms and ammunition. that is not manufactured here anyway.
Countries have a lot of work to do at the national level to be ready to implement @AfCFTA . 20/30 years from now it may as well be the fastest trade agreement implemented.
@AfCFTA lack of Rules of Origin was a significant barrier to trade due to cost burden. the new framework creates a new investment base. countries like Algeria who are not part of WTO, benefit.