Kenya’s National Treasury and Planning Ministry is inviting institutions, private sectors, non-governmental organizations, and the general public to submit their taxation proposals.
These suggestions, to be contained in the Finance Bill, forms the basis upon which the 2021/22 National Budget, will be prepared.
The Public Finance Management Act, 2012, and Article 201 of the Constitution require openness and accountability, including public participation in financial matters.
As required by the law, the Finance Bill should be submitted to the National Assembly not later than 30th April of every year to facilitate its approval and presentation for assent by 30th June.
These tax proposals are to be submitted in writing to the ministry not later than 15th November 2020. This is taking into account the timelines and need to facilitate timely consultations with stakeholders,
National Treasury says that the proposals aim to support economic recovery from adverse effects of the Covid-19 pandemic, strengthen revenue collection, and promote macroeconomic stability.
The submissions should also be specific on the proposed amendment to the law, supported by a statement on the issue to be addressed and a clear justification for the proposed amendment.
“The review of the tax proposals, consultations and their consideration will commence on 16th November 2020, immediately after the deadline of submissions,” said Treasury CS Ukur Yatani in a statement.
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