"High tax is no guarantee to raising more revenues. Be careful with taxes so that you do not end up with a completely opposite effect where businesses close down and investors move out," Ms Gaye said.
Speaking during the opening of this year's Economic Symposium organised by the
ICPAK chairman Benson Okundi said that most county officials had raised charges without interrogating cashflows to establish where there were deficits.
Mr Okundi said sealing revenue leakages could help counties plug shortfalls. He said counties could also expand their revenue streams and float county Treasury instruments.
This, however, would require them to first have investment agencies and seek approval from the national government to raise capital through bonds.
"Counties should create the right investment climate including affordable taxes to entice investors into deals," said Mr Okundi. The ICPAK chairman said the Sh458 billion public wage bill could be trimmed without retrenchment of workers."Instead of being hired on permanent basis, workers should be on renewable contracts which will boost efficiency and weed out non-performers, especially in counties," Mr Okundi said.Workforce analysis, ICPAK said, would avoid duplication and job overlaps, saving the government billions of shillings.
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