Revival of progressive parts of the withdrawn Finance Bill 2024 would yield the government KShs. 150 billion in revenue, the Cabinet Secretary for National Treasury John Mbadi said last week.
- CS Mbadi clarified that Eco-Levy, which was meant “to ensure that manufacturers and importers …pay for the negative environmental impacts” of certain electronics and goods such as tyres and diapers, would not be among the clauses of Finance Bill 2024 to be revived.
- The CS however hinted at the revival of clauses on pension, tax amnesty, excise duty increases on imported sugar among other areas which he cumulatively said would raise Ksh150 billion to support government operations.
- Other clauses that will not see the light of day again include clauses on motor vehicle circulation, taxing bread, sanitary pads, money transfers and transactions.
“We are not bringing back the Finance Bill 2024, it is dead and buried,” he said during a TV interview “We may not package it as Finance Bill because of Kenyans phobia of Finance Bills, and we don’t have exact time for re-introduction as we have to involve different departments of the government, but we have to keep on legislating.”
Part of the changes included extending the amnesty programme, which expired in June and raised KShs. 43bn, to March 2025. According to Mbadi, if the amnesty clause is extended as was intended in the Bill, the government could raise between Ksh30 billion to Ksh 50 billion more.
