A major showdown is looming both in Parliament and in Nairobi streets even as the Finance Bill 2024 is set to be tabled on Tuesday, June 18, 2024.
The National Assembly Finance Committee is set to table the Bill on Tuesday after taking into consideration views expressed by Kenyans during the public participation phase.
Before tabling the Bill in Parliament, the committee is expected to brief President William Ruto about the proposed changes.
K24 Digital understands that the House Committee could have dropped contentious issues contained in the Bill such as motor vehicle tax at a rate of 2.5 per cent of the value of the motor vehicle.
Also, the committee is reported to have dropped a proposal to have bread removed from the list of items that are zero-rated for VAT purposes. Bread is currently on a list of zero-rated items that include flour, milk and sanitary products.
People Daily reports that the committee has also done away with the proposed bid to impose an excise duty of 25 per cent on crude palm oil and finished cooking oil.
The Treasury is seeking in the bill to introduce a new levy for manufacturers and importers which is aimed at protecting the environment. As proposed in the Finance Bill 2024, the Eco Levy targets goods that are deemed to negatively affect the environment.
Showdown on Bill
Already, a section of MPs allied to the opposition have vowed to shoot down the proposed law if the contentious issues are not addressed. A number of legislators from the government have also vowed to join their opposition counterparts to reject the Bill.
On the other hand, MPs from the government side say they are ready to pass the Bill as it is to help the government collect more taxes for development.
With such a rift in Parliament, a showdown between the legislators is expected during the debate and consequently voting.
On the streets, a group of activists have planned protests outside Parliament to pressure the MPs to reject the Bill if certain clauses are not dropped.
Running battles are expected in the city as police seek to disperse the crowds, as they have done before.
One of the organisers, Boniface Mwangi, said Kenyans from every part of the country would convene in various parts of the city before marching to Parliament.
Mwangi via his social media handles named the venues as Ambassadeur/Archives, Nation Centre, Supreme Court, Skate Park, Taifa Road, Kencom Stage and City Hall Way.
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