John Mbadi,Treasury Cabinet Secretary has rejected calls for an extra Sh20 billion for counties. He says governors to accept the proposed Sh380 billion by the National Assembly. Mbadi recognized the need for more funding but stressed that Kenya’s economy cannot support the Sh400 billion requested by governors and supported by senators. Healso explained that promising […]
The Finance Bill 2024 introduced significant tax measures. The National Treasury plans to reinstate these measures. They were previously scrapped due to protests in June. This decision aligns with the International Monetary Fund‘s (IMF) conditions. The upcoming Tax Laws Amendments Bill will impose higher taxes. These taxes will apply to betting, phone calls, and data. […]
The government revisits parts of the shelved Finance Bill, 2024, raising concerns about its commitment to tax reliefs. Initially, the State reintroduces popular proposals from the withdrawn Bill, but controversial provisions may follow. Shortly after President Ruto rejected the Finance Bill, Majority Leader Kimani Ichung’wah introduced new legislation. The Kenya Revenue Authority (Amendment) Bill, 2024, […]
The government plans to revive key parts of the rejected Finance Bill 2024. The focus will be on extending the tax amnesty and reducing tax expenditures. Treasury Cabinet Secretary John Mbadi confirmed the bill will not be reintroduced in full. Public protests led to its initial rejection. Mbadi emphasized reinstating specific provisions through alternative legislative […]
John Mbadi, nominated for Treasury Cabinet Secretary, has highlighted two main priorities. They include revising the Finance Bill, 2024, and reforming the Kenya Revenue Authority (KRA). His vetting process was extensive, lasting over two hours and forty minutes—the longest for any nominee. During the vetting, Mbadi addressed several financial issues, including the Finance Bill, 2024’s […]
