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Budget 2015 highlights kenya
CS Rotich also announced that Employers who hire and train at least 10 fresh graduates will enjoy tax rebates.
The Excise duty targets harmful products such as cigarette, alcohol, old motor vehicles and plastic bags.A massive allocation of resources to the country's security agencies which marked a Sh27 billion increase was witnessed, Capital reports.The government will invest Ksh241.8 billion in security for the military, police and prisons service.All payments made by foreign film producers to local actors and crew members will not be subjected to the Withholding Tax.The Government allocated Sh223.9 billion to the security sector during the financial year.The 5 Pillar Economic Transformation Agenda.Overall Budget Financing, to finance its sh2.234 trillion game of thrones season 1 episode 7 english subtitles budget for the financial year 2015/16, the government expects to collect sh1.358 trillion in the same financial year.
To develop agriculture, it has allocated sh79.7 billion for the ongoing irrigation projects, launch of fisheries and livestock development.
This pillar anchors the 2015/16 Budget.
Of the two trillion shillings, sh784.2 billion will finance the recurrent expenditure of government ministries whereas sh721.3 billion will be used on capital expenditure, also known as the development expenditure.
In fat joe another day cdq addition, the government projects to receive sh73.4 billion in form of grants, sh283.7 billion in foreign borrowing and sh222.5 billion in domestic borrowing.
The government intends to spend sh404.7 billion on infrastructure as an area of priority.Ports, kSh.65bn has been allocated for on-going year planner app for desktop upgrading of Kisumu and Isiolo Airports, and construction of 3 new airports (Mandera, Malindi and Suneka) and KSh.6bn for replacement of ferries.In addition the government also proposed to exempt VAT in respect of goods and services purchased for use in film-making.Expects the tax revenue for the 2015/16 fiscal year to be sh1.358 trillion up from sh1.1705 trillion in the 2014/15 financial year.Ensures that the budget deficit.7 of GDP in 2015/16 declines.0 in the medium term (three to five years ensures that the public debt to GDP ratio.1 at the end of June 2015 declines.3 in 2017/18 (medium term).In addition, sh35.2 billion is set aside as the Constituency Development Fund (CDF) shareable to all the 290 constituencies equitably.28.2 bn for free day secondary education, â Ksh.5 bn for free primary education.Ksh.6bn has been allocated towards reducing the cost of energy.Â Ksh.4 bn for Laptop project to schools, development of digital content, building capacity of teachers and rolling out computer laboratories.