NAIROBI, Kenya, Jun 13 – The National Assembly Finance Committee is Tuesday scheduled to present the revised version of the Finance Bill 2023 following the conclusion of the public participation phase.
Under the leadership of Molo MP Kimani Kuria, the committee has already made several amendments to the bill, including a significant reduction in the housing levy percentage.
The levy has been reduced by half, from the initial 3 percent to 1.5 percent. Another adjustment pertains to content creators, with their levy being reduced from 15 percent to 5 percent.
These concessions were made in direct response to the widespread public outcry, as a considerable number of Kenyans expressed strong opposition to the original provisions of the bill.
President William Ruto is determined to have the bill passed, as it would generate sufficient revenue to support the implementation of his programs and initiatives.
