*World Bank seeks 38pc tax rate for top earners* The multilateral lender is pushing for the creation of a new tax band for the top earners to fill the hole in the public finances that will be created by reducing the tax rate for all monthly pay below Sh166,677. It seeks the creation of six tax bands from the current five in a shift that will eliminate the 30 percent tax rate. Currently, workers earning above Sh500,000 a month pay 32.5 percent in income taxes, and those making above Sh800,000 pay a top rate of 35 percent The World Bank plans to ease the pain of workers earning less than Sh480,000 monthly as salary rises continued to lag inflation or cost of living measure for the fifth year in a row, weakening workers' purchasing power and their standards of living. _*Source: Business Daily*_