President Kenyatta has spelled doom for rich Kenyans who are not paying taxes saying that everyone’s income and source of wealth must and should be reflected in what he remits to the taxpayer.
Speaking during his state of the nation address, Uhuru mantained that super-rich individuals should be forced to disclose their sources of wealth and be taxed accordingly.
“High net worth persons whose lifestyles are not reflective of the taxes that they pay must be compelled to demonstrate the source of their wealth and to contribute their share of taxes accordingly,” Uhuru said.
The President said targeting the super rich would widen KRA’s tax net by widening the current tax base.
He said despite an impressive GDP growth over the years, the country’s tax base was significantly low, with growth pegged on a few citizens who end up bearing the brunt of the tax burden.
“As a consequence, we have in the recent past taken steps to widen the tax base and seek the implementation of more broad-based taxes as a means of bringing more Kenyans into the tax net,” Uhuru said.