Re-look at taxation in the Finance Bill 2023/2024, says Kakamega Governor

Kakamega, Tuesday, May 9, 2023

KNA by George Kaiga

Kakamega Governor Fernandes Barasa has asked Members of Parliament to re-look at the proposed taxation in the Finance Bill 2023/2024 being fronted by the National Treasury.

Speaking to members of the National Assembly’s Committee on Decentralised Funds in his office today, Governor Barasa called on the MPs to mobilise their counterparts in the August House and ensure a win-win balance for all Kenyans when the Bill is tabled.

Governor Barasa said there was need for engagement on the proposed Bill, saying if implemented in the current form, it will overburden the already overtaxed Kenyans.

“We wish to prevail upon the MPs to re-look at the Finance Bill 2023/2024 in which the National Government proposes various taxation measures,” he said.

The six MPs led by Getrude Mbeyu, who is also the committee’s vice-chair person undertook to mobilise their counterparts in the August House and ensure a win-win for all Kenyans when the Bill is tabled.

The Bill proposes a raft of tax changes which are geared towards expanding the tax base and raising revenues to meet the government’s ambitious budget of Sh3.6 trillion for the year 2023/2024.

Among the taxes proposed include, 5 percent excise duty to be levied on wigs, false beards, eyebrows, eyelashes, artificial nails, and human hair, per diems for public and private servants will now be fully taxable as gains from employment and imported cell phones to attract a 10 percent excise duty.

Other proposals include individuals earning Sh500, 000 or more per month will have their PAYE graduated to 35 percent and Digital Assets Tax has been introduced among other highlights.

Many Kenyans have however expressed their misgivings, saying the move will overburden many Kenyans hard hit by the current economic meltdown.

In the recent past, the government has struggled to meet its expenditure requirements, a move that has forced the government to seek to increase taxes to bridge its fiscal deficit.

Courtesy; K.N.A