Finance Bill 2023 Kenya: “Focus on Positivity.” Sen. Cherargei Urges Kenyans
Nandi Senator Hon. Kiprotich Arap Cherargei is the most recent politician to support the Finance Bill 2023 in Kenya.
This comes after a larger percentage of Kenyans show zero support to the proposed 2023 Finance Bill. The most opposed suggestion in the Kenya Kwanza Government finance Bill is the introduction of the housing Levy and increased VAT to 16%.
According to many employers and employees, together with the workers unions, the Finance Bill 2023 Kenya will be a burden to the middle and low class earners.
Senator Charargei today urged kenyans not just to focus on the increased and introduced tax but also to focus on the good things President William Ruto has suggested in the document. Some of the positive things about the Finance Bill 2023 are:
The Proposed Finance Bill 2023 has REMOVED/REDUCED the following TAXES
1. Eight per cent VAT on gas removed
2. Railway Development Levy (RDL) on gas removed
3. Import Declaration Fees (IDF) on gas removed
4. IDF reduced across the board from 3.5 per cent to 2.5 per cent
5. RDL reduced across the board from 2 per cent to 1.5 per cent
6. VAT on raw materials for fertilisers removed
7. VAT exempt on materials for the manufacture of pharmaceuticals
8. VAT exempt on materials for pest control products
9. VAT on value-added tea for export removed
10. VAT exempt on vaccines for human medicine
11. VAT exempt on vaccines for veterinary medicine
12. VAT exempt on aircraft spare parts – to return servicing aircraft business and jobs at Wilson Airport that have since moved to neighbouring countries
13. Reduce tax on monthly rental income from 10 per cent to 7.5 per cent
14. Tax exemptions on transport of sugar from farm to factory
15. KRA’s power in annual automatic inflation adjustment removed
16. VAT on value-added tea for export removed
17. Excise duty on money bank transfer reduced from 20 to 15 per cent
18. Excise duty on money transfer agencies reduced from 20 to 15 per cent
19. Excise duty on bank to mobile phone money transfer reduced from 20 to 15 per cent
20. Excise duty on telephone and Internet data reduced from 20 to 15 percent.
Contrary to Cherargei, Lawyer Miguna Miguna yesterday urged President William Ruto to drop the Finance Bill 2033 since most Kenyans have already rejected it.
Miguna Miguna said Ruto should embrace listening to Mwananchi before implementing the 2023 Financial Bill into law.