10 June, 2010

Kenya Budget Speech 2010 / 2011

The Kenyan Minister of Finance Honourable Uhuru Kenyatta today has read the Kenya Budget 2010 - 2011 announcing various cross cutting and investment inducing measures including:

  • Stamp Duty on Debenture ,Mortgages and Charges reduced to from 2% to 1% to stimulate the Real Estate and property market .
  • Land Rent late payment penalty reduced from 2% to 1% with waiver period on current outstanding interest up to 30 June 2010
  • New VAT Act by 2011
  •  Increase excise tax for malt beer.
  •  Import Duty on Poultry to be scrapped
  • Pension Benefits to be paid within shorter period i.e 60 days to 30 days
  • Amnesty on taxation for remittances brought in by Kenyans in the Diaspora.
  • Sh5.7bn to maintain roads, improve market access, research and other interventions. 
  • Defense Budget increased by Kshs 2 Billion 
You can now download the speech in [PDF]  format from the Ministry of Finance Website to the following link BUDGET 2010/11 DOWNLOAD

More updates to follow

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