The Cabinet secretary for National Treasury, Mr. Henry Rotich presented the Governments budget for the financial year 2014/2015 yesterday. While the Financial bill not yet out, Tax experts have made some highlights from the Cabinet Secretaries’ speech to Parliament.
Some of the interventions aimed at achieving growth in the agriculture sector, and that may benefit the horticulture sector in the long run include;
– Seeds exemption of all imported inputs used in the processing and preservation of seeds for planting.
– Hastening establishment of fertilizer factories to reduce the high cost of fertilizers
– Mega projects for power generation aimed at reducing the cost of energy
– Construction of the standard gauge railway which will reduce the cost of transportation of imported goods from the port of Mombasa
We shall endeavor to share more informed analysis in due course after the Finance Bill is out. In the meantime you can find detailed analysis on the following links;
- PKF Kenya
- PWC: Budget bulletin
- Budget Statement for The fiscal_year 2014-2015
- Budget 2014 Analysis BCPatel
Quote; PWC ‘s Budget bulletin
“This is a fair budget focused on efficiency and prudent use of resources. It has good intentions accommodating diverse interests but needs continuous review during the year to ensure the desired results are achieved. Its full execution will be a short in the arm the economy requires.”