Ruto signs finance bill into law

By Peter Ochieng

The Finance Bill, 2023 is now law.

President William Ruto signed the bill into law on Monday morning, at State House, Nairobi.

“President William Ruto has assented to the Finance Bill,” State House Press Secretary Emmanuel Talam confirmed, as quoted by Capital FM.

The bill was passed in the National Assembly last week, despite spirited opposition from opposition MPs.

Some of the controversial clauses in the bill - now law include a 1.5 per cent housing levy and 16 per value added tax on petroleum products from the current 8 per cent.

According to photos shared online, Senate Speaker Amason Jeffa Kingi and his National Aseembly counterpart Moses Wetang'ula were among those who witnessed the brief signing event.

Leaders aligned to the Azimio La Umoja One Kenya are expected to meet their supporters at the Kamkunji grounds, Nairobi on Tuesday, to chart a way foward after passing of the bill by MPs and ascension by President Ruto.

It is predicted that the opposition may take a route back to demos, to express displeasure over the bill which they have termed as punitive.

On Sunday, the head of State said the Azimio leaders are free to call for protests, but they should be peaceful.

Proposals in the finance bill take effect on 1st July, 2023.