Saturday, May 27, 2023 – President William Ruto’s controversial Finance Bill 2023 may be dead on arrival.
This is after 55 out of 66 groups opposed the Bill during hearings held by the National Assembly Finance Committee.
According to a statement released by the National Assembly, several lobby groups and workers’ representatives expressed reservations over the proposed Housing Fund and increased taxation on various products.
In particular, the Kenya Airline Pilots Association proposed the Housing Fund be voluntary because a section of working Kenyans had already invested heavily in housing.
The team also suggested that there was limited information about the project to the public, making it very difficult for them to support the proposals being advocated for by Ruto. They thus urged the government to conduct public awareness.
Another issue raised regarding the Housing Fund was that the contributors did not have an option of choosing the design and model of houses built by the government.
On the other hand, the Petroleum Institute of East Africa proposed changes in the taxes on petroleum products to allow oil marketers to seek refunds for the products in the country.
The team noted that the move would make fuel cheaper and greatly benefit the public.
Surveyors of Kenya also presented their proposals against the introduction of withholding tax on rental income collected by agents appointed by the Commissioner.
The Institute noted that it will be impractical to remit tax in 24 hours given the logistics required and the jamming of the KRA portal at times.
Other taxation plans also opposed during the hearings were a withholding tax rate of 15% on digital content creation and the Digital Asset Tax (DAT) of 3%.
The Kenyan DAILY POST
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Hahahahàhha never trust a guy with a suit you Ruto government is full of goons and the hijackers of constitution and public offices,Will people ever be wise enough to refuse to follow bad leaders or to take away the freedom of other people? Kenyans as you walk in the streets of Nairobi be careful being approached with a guy who is smartly dressed he may be a killer,thug and rapist think twice Ruto government is a den of wolves and hyenas.