The punitive taxes and unpaid bills, according to the Kenya National Chamber of Commerce and Industry, have hurt trade and investment in the nation. In order to protect investors and promote economic growth, the government should change its tax laws and recommendations, according to KNCCI President Richard Ngatia.
Ngatia disclosed that his organization has intervened in pending bills that have ruined several enterprises during a meeting with chamber delegates in Malindi to help his re-election campaign. He urged the government to concentrate on making all due payments, giving money back to regional companies, and renegotiating with foreign creditors
Additionally, Ngatia stressed the significance of the President’s signature on the legislation requiring the federal, state, and local governments to pay their bills within six months after the completion of the service. She also emphasized that the chamber was in favor of quicker bill payment.
He warned against an erratic tax structure and emphasized the necessity for a steady tax to draw in more foreign investment. In order to complete his objectives for members, Ngatia, the KNCCI’s current leader, is running for re-election.