He noted that following the recently announced currency
demonetization, a local tax amnesty would be a golden
opportunity for the government to collect tax and also widen the
tax net since many people would be attracted to take this up.
"The on-going foreign income tax amnesty that is expiring on
June 30, 2019, has been very successful, an indication that a
local amnesty would also be very successful," Mburugu said.
"We recommend such an amnesty be at a preferential rate of
principal tax, providing a win-win situation for both the
government and the tax payer."
Kenya should also modernize its tax laws because the current
income tax law was put in place in 1974, he said.
Mburugu said that the world has truly become a village and
significant business deals are happening on a continuous basis
between or among people who are in various parts of the world
for which value is created and monumental sums of money is made.
"The taxation of such trade is complicated and requires
modern tax laws and tools such as the common reporting
standards... across various territorial jurisdictions," he