• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Kenya eyes environment levy, tax on green bonds to fund budget

1 year ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
50
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Kenya eyes environment levy, tax on green bonds to fund budget

Kenya’s Treasury wants to target infrastructure bond investors, motor vehicle owners and online marketplace operators, among others, with new tax measures to raise revenue and attain the lowest fiscal deficit in at least 15 years.

It’s also pushing for a special environmental tax to address pollution.

The measures were contained in a bill sent to Kenya’s national assembly and dated May 9. MPs have until the end of June to consider the proposals, which would come into effect between July and January 2025.

They’re meant to fund Kenya’s budget for the year that starts in July, as part of a plan to nearly double revenue collection to 25% of gross domestic product in 2030. The African nation’s budget deficit is expected to be 2.9% of GDP for the year through June 2025.

Under the wide-ranging proposals, the Treasury has called for a 5% withholding tax on interest arising from infrastructure bonds as well as green bonds. Coupons from those securities have been tax free until now, making them popular among investors. Existing infrastructure bonds with a maturity of at least three years would be exempted from paying tax.

A so-called “eco levy” would be charged on manufacturers and importers of various goods, including diapers, rubber tires and electronics to “pay for the negative environmental impacts of the goods” they produce or ship into Kenya.

RelatedPosts

Gold Price Surpasses $4,000 for First Time

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

Kenya also wants to target multinational companies with a levy dubbed “minimum top-up tax,” to be paid by firms whose combined effective tax rate is less than 15%. The tax would be applicable to firms which are part of a multinational group with consolidated annual turnover of at least €750 million by the parent entity.

A separate digital market-place measure that addresses significant economic presence may zero in on companies such as Uber, Netflix and Glovo, a food and grocery delivery site.

Source: bloomberg
Via: norvanreports
Tags: environment levyGreen BondsKenya eyes environment levytax on green bonds to fund budget
No Result
View All Result

Highlights

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Spending Smarter to Boost Growth

Asante Gold Reports Strong Exploration Results at Bibiani and Chirano Mines

Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

Trending

Business

Gold Price Surpasses $4,000 for First Time

October 8, 2025

Gold Price Surpasses $4,000 for First Time Gold advanced to a new record on Tuesday, with futures...

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

October 8, 2025

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

October 8, 2025

England, Portugal, and Norway Poised for 2026 World Cup Qualification

October 8, 2025

Spending Smarter to Boost Growth

October 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.