Below are the new taxes to be paid in Kenya from July 2023
- SMEs that make between Sh1 million and Sh25 million to pay 3% on all the money they get from sales.
- Influencers to pay 5% withholding tax on all money they make from digital content creation.
- Prices of petrol, diesel and kerosene to hit a record high after increase of VAT on petroleum to increase to 16%
- High-income earners will also see increased taxes on their gross salaries.
- Now income between Sh500,000 and Sh800,000 will be taxed at 32.5%.
- Income above Sh800,000 to pay 35% tax.
- 1.5% monthly housing levy deducted on gross monthly pay
- 2.75% deduction on gross pay for NHIF
- KRA will start taxing mileage allowance that is above the tax-free mileage allowance as approved by the Automobile Association of Kenya.
- Excise duty on betting increased to 12.5%
- 15% withholding tax on fees charged on advertisements for alcoholic beverages, betting, gaming, lotteries, and prize competitions in media, including television and newspapers.
- 10% excise duty or Sh100, 000 per ton whichever is higher on fish imported to Kenya.
- Importers of sugar, powdered juice, furniture, plastic and rubber products, paper and paper products, safety matches, particle boards, and plywood among other goods of timber will also see increased custom duties to between 10% and 30%
