Kenya still bleeding from tax evasion

Tax evasion

Kenya is losing up to Sh62 billion every year due to tax evasion. 

Photo credit: File | Nation Media Group

What you need to know:

  • The country was ranked seven in Africa for providing conducive ground for tax evasion with its laws and financial systems being programmed to abet global corporate tax abuse and financial secrecy.
  • Coronavirus has now exposed the cost of allowing tax abuse which could have ensured better funding for preparedness to tackle health and economic challenges.

  • Multinationals operating in Kenya have in many occasions found to be involved in tax evasion schemes.

Kenya is losing up to Sh62 billion every year in taxes as companies and individuals use tax loopholes to avoid paying their pound of flesh.

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