ICPAK Wants Treasury Stop Over Taxation
Institute of Certified public accountants of Kenya ICPAK (Photo/ Courtesy
By Harrison Kivisu
Email, thecoastnewspaper@gmail.com
The institute of certified public accountants of Kenya (ICPAK) has asked the government not to overburden Kenyans with more taxation in the proposed 2025-26 financial year budget.
ICPAK chairman Philiph Kakai says even as the government plans to widen its tax net; it should strike a balance between being fiscally prudent and expanding welfare schemes.
“The government should strike a fine balance between being fiscally prudent and expanding welfare schemes,” he said adding that overtaxing Kenyans was causing more harm than good to the economy.
The chairman, who was addressing hundreds of delegates during the 42 annual ICPAK conference in Mombasa on May 20, 2025, challenged accountants to fight corruption by sealing loopholes within their jurisdictions.
“We must tighten the grip on corruption not just for the sake of international rankings, but also for the soul of our nation. Because until integrity is the rule, not the exception, no economic plan will truly succeed.”
According to him as professionals, particularly accountants, they must be the first line of defense.
“We understand the systems, see the loopholes, and are trained to detect, prevent, and report financial malpractice. But beyond systems and reports, this fight also demands moral clarity and collective courage.”
Through the chairman, the accounting professionals regretted that Kenya’s economy was still struggling due to corruption and mismanagement of public resources.
“It is a shame that in this day and age, in this country we love, people are still being found with millions of shillings stashed in their homes.
This is not just cash but evidence of a broken system, a betrayal of public trust, and a gross injustice to the millions of Kenyans who work hard, pay taxes, and live with integrity,” he added.
ICPAK says it is prepared to make its imputs when the bill comes before the institute adding that it was prudent the government manages the debt crisis in the country amid rising inflation.
“Our public debt, now exceeding Ksh11 trillion, is of particular concern, with debt servicing consuming over 60 percent of revenues.
Meanwhile, inflation is pushing basic goods out of reach for millions, and youth unemployment remains at 35%, robbing the country of its most potent asset—its people.
According to ICPAK, in 2021, Kenya recorded a remarkable post-COVID rebound, with GDP growth of 7.5 percent being one of the highest in the region. This was driven by a resurgence in services, finance, and tourism.
However, in 2025, the picture is more cautious. Growth projections by the CBK and World Bank place the country between 5.3 percent and 5.4 percent.
