Finance Bill 2024: Punitive taxes dropped by Kenyan Legislatures

By Phyllis MUCHOKI

The Kenyan government through the National Assembly’s finance committee Tuesday bowed to pressure from public protesters and different stakeholders and dropped several combative clauses in the Finance Bill 2024.

This is even as Kenyans took to the streets in Nairobi morning to protest against what they termed as ‘punitive’ laws.

Earlier in the day, the Kenya Kwanza’s Parliamentary Group, had been chaired by President William Ruto at State House to discuss the contentious issues in the Bill over its punitive proposals.

The MPs are expected to start the Bill’s debate for five days beginning June 19 this week.

Here are the dropped tax proposals.

1. Excise duty of Mpesa transactions. This has been retained at 15 percent from the proposed 20 percent
2. VAT on banking and foreign exchange transactions which had been proposed at 16 percent has now been thwarted.
3. Excise duty on imported eggs
4. Eco levy
5. 16 percent levy on bread
6. 5 percent motor vehicle tax
7. E-Tims for farmers
8. Data protection laws to spy on personal data by the KRA