Tax experts are calling for an independent audit of the Kenya National Bureau of Statistics economic data collection methods saying the data does not correspond with reality.
PKF tax partner Michael Mburugu says Kenya’s economic growth enablers have been underperforming hindering economic expansion.
PKF is further calling on the National Treasury to reduce corporate tax from 30 to 20 percent to help the private sector expand.
This is not the first time KNBS is finding itself under scrutiny for issuing gross domestic product figures that are contrary to the economic wellbeing of the country.
Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 22163
In April this year, the KNBS was cast into the limelight, after it said the Kenyan economy expanded by 6.3 percent despite the employment numbers falling from 114,400 in 2017 to 78,400 last year while about 20 listed companies issued plunged into the loss territory citing harsh operating environment.
Economic experts from PKF says the statistics office needs to be scrutinized by an independent player to confirm the authenticity of their data.
Mburugu says the government should further freeze all ongoing capital projects in a bid re-evaluate their economic benefits to the economy.
The experts cite the standard gauge railway line, the planned Mombasa to Malaba expressway as some of the projects that need to be audited.
On tax administration and management, PKF is pointing an accusing finger at the taxman saying there is a serious need of a management purge at times tower to streamline operations of the taxman.
The tax authority has been on the spotlight recently due to leadership and management wrangles.
Tell Us What You Think
Related reporting
More Tech →