Kenya’s public finance is under the spotlight once more following the release of three new reports calling for urgent reforms in tax policy and debt management.
During a recent media briefing, journalists were presented with an honest analysis of the state of Kenya’s public finance, with insights drawn from reports on minimum tax, debt transparency, and accountability.
One of the key reports, Is Minimum Tax Still a Viable Option for Kenya?, this one reopens Kenya’s earlier trial with the tax and draws lessons from other nations like Nigeria.
It recommends a more balanced structure, the one that protects startups, bars erosion of the tax base, and promotes fairness.
Besides taxation reforms, the reports also raised alarm about Kenya’s rising public debt that has now crossed the Ksh 11.5 trillion mark.
Experts noted persistent loopholes in transparency, including delayed publication of debt reports and weak parliamentary oversight.
According to findings, Kenyan public finance needs bold interventions from remodeling tax architectures to instituting legal reforms that can improve accountability in public fund mobilization and management, the report said.
The reports also highlighted the necessity to equip Parliament with stronger oversight tools and timely access to budget and debt data in order to enable public scrutiny.
