1. Huko Kwa jirani pamoja na finance bill kupingwa Kwa maandamano kila kona Wabunge wameipitisha Kwa kishindo.
2. Muswada (finance bill 2024) unapelekwa kwenye Kamati, kisha uende Kwa Mhe. Dr Rais William S. Ruto
3. Tuna ya kujifunza hapa?
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The Finance Bill 2024 was first presented in parliament in May proposing increased taxes and levies. This includes a 1.5% digital tax on local platforms that offer services such as online jobs, rentals, food delivery, and ride-hailing, subject to parliamentary approval.
A value-added tax (VAT) on electric bikes, buses, and solar and lithium-ion batteries is also included in the bill raising concerns from the Nairobi-based Associated Battery Manufacturers (ABM) that it will lead to increased cost of a 60-kilogramme solar battery in Kenya by $312 (45,000 Kenyan shillings).
Also, the plan to introduce a 6% Significant Economic Presence (SEP) Tax has generated uproar from the end of the ride-hailing companies as they fear that it will impede their operations and potentially force the ride-hailing apps to leave.
Meanwhile, as concerns about the bill grow, the president sees them as a way to improve the country's tax environment and pay down its debt.
Moreover, according to a report, the presidency announced it would remove several of the bill’s most controversial aspects, such as taxes on buying bread and owning cars.
Per the statement, “The Finance Bill has been amended to remove the proposed 16 per cent VAT on bread, transportation of sugar, financial services, foreign exchange transactions as well as the 2.5 per cent Motor Vehicle Tax.”
“Additionally, there will be no increase in mobile money transfer fees, and Excise Duty on vegetable oil has also been removed,” it added.
Amid this situation, Anonymous threatened to reveal “corrupt deals involving members of parliament (MPs)” if they decide to approve the Bill
Source: Techpoint.africa
2. Muswada (finance bill 2024) unapelekwa kwenye Kamati, kisha uende Kwa Mhe. Dr Rais William S. Ruto
3. Tuna ya kujifunza hapa?
---
- Despite widespread protest in the country, the Kenyan Finance Bill 2024 has scaled second reading after being passed by a vote of 204 to 115 in the parliament.
- With this development, the bill will proceed to the committee stage and subsequently pass through a third reading after which the president will assent to it.
- The bill has encountered great resistance from the citizens due to concerns about its economic impact as it includes various new tax measures.
The Finance Bill 2024 was first presented in parliament in May proposing increased taxes and levies. This includes a 1.5% digital tax on local platforms that offer services such as online jobs, rentals, food delivery, and ride-hailing, subject to parliamentary approval.
A value-added tax (VAT) on electric bikes, buses, and solar and lithium-ion batteries is also included in the bill raising concerns from the Nairobi-based Associated Battery Manufacturers (ABM) that it will lead to increased cost of a 60-kilogramme solar battery in Kenya by $312 (45,000 Kenyan shillings).
Also, the plan to introduce a 6% Significant Economic Presence (SEP) Tax has generated uproar from the end of the ride-hailing companies as they fear that it will impede their operations and potentially force the ride-hailing apps to leave.
Meanwhile, as concerns about the bill grow, the president sees them as a way to improve the country's tax environment and pay down its debt.
Moreover, according to a report, the presidency announced it would remove several of the bill’s most controversial aspects, such as taxes on buying bread and owning cars.
Per the statement, “The Finance Bill has been amended to remove the proposed 16 per cent VAT on bread, transportation of sugar, financial services, foreign exchange transactions as well as the 2.5 per cent Motor Vehicle Tax.”
“Additionally, there will be no increase in mobile money transfer fees, and Excise Duty on vegetable oil has also been removed,” it added.
Amid this situation, Anonymous threatened to reveal “corrupt deals involving members of parliament (MPs)” if they decide to approve the Bill
Source: Techpoint.africa
