World Bank Warns High Taxes, Bribery Are Hurting Kenya’s Businesses
Source: Nairobi Wire
Summary
High tax burdens, widespread bribery, cumbersome regulations, and elevated operational costs are increasingly slowing down private sector investment in Kenya, according to a report released by the World Bank. In its Private Sector Diagnostic report, the global lender highlighted that businesses face compounding pressures from multiple national and county-level levies, shifting tax policies, and systemic market inequalities. “While corporate income tax rates are broadly aligned with regional peers, investors face multiple national and county-level levies, frequent tax changes, cumbersome administration, and perceptions of unequal treatment,” the World Bank stated. The Bretton Woods institution highlighted institutional weaknesses and widespread corruption as The post World Bank Warns High Taxes, Bribery Are Hurting Kenya’s Businesses appeared first on Nairobi Wire.