RUTO INTRODUCES TAXES ON CHAMA AND MERRY-GO- ROUNDS

Mothers who are in merry-go-round and other village ‘chamas’ today received sad news following President William Samoei Ruto’s latest proposals in the Finance Bill 2023.

This comes after the Head of State proposed an income tax for chamas and other activities that will be considered as business.

According to Pauline Njoroge, President William Samoei Ruto’s Finance Bill has introduced income tax for chamas which members will start remitting as early as July 2023.

“Wamama! Your chamas will be considered as businesses and will be liable to income tax.” Pauline said.

In addition, Daily Nation reporter Gabriel Oguda also expressed his views on the same issue. Speaking to Kenyans through his twitter account, Oguda stated that members of village chamas and other merry-go-round schemes will have to pay income tax.

Section 17 of the Finance Bill 2023 states that a body of persons which carries on the activities of a members’ club or trade association shall be deemed to be carrying on a business and the gross receipts on revenue account shall be deemed to be income from a business thus will attract income tax.

“If you know your mother belongs to a village Chama, kindly inform her that the Finance Bill 2023 is going to tax her contributions at source. Bwana she must be there no matter what.” Oguda wrote.