The contentious Finance Bill 2023 sailed through the Second Reading after a charged debate in the National Assembly yesterday. With 176 members of parliament voted in favor of the Bill, 81 voted against it. Prior to the vote, National Assembly Majority Leader Kimani Ichung’wah put up a spirited defense for the contentious Bill amid strong opposition from MPs allied to the Azimio la Umoja coalition

Absentees

• Titus Khamala 
• Oscar sudi
• Peter Salaysa  
• George Murugara
• Babu Owino

The amended Finance Bill 2023 seeks to raise Ksh.311 billion, Ksh.100 billion higher than the initial bill. With the House Business Committee having occasionally approved the debate schedule of the bill on Wednesday, all eyes are now glued on the ruling Kenya Kwanza and Azimio la Umoja legislators who are opposed to the Bill

Top of the concessions made in the amended Bill is the Housing Levy contribution by employers and employees which has been reduced from 3 to 1.5 per cent. The Finance Committee also slashed withholding tax for Digital Content Creation from 15 to 5 per cent. 20 per cent VAT on Gaming and Betting has been reduced to 12.5 per cent while the mandatory 20 per cent of the contested amount deposit to Kenya Revenue Authority (KRA) for lodging Tax Appeal has been repealed.

The National Treasury and Economic Planning Cabinet Secretary Njuguna Ndung’u will deliver the FY2023/24 budget statement to parliament today afternoon where the session is expected to contest over the 2023 budget proposal. In the proposal, some of the allocations placed were

• Ksh.385b for the counties
• Ksh40b for the parliament
• Ksh22.9b for Judiciary
• kSh568.8 billion Education
• Health ministry Sh125.5 billion..
• the Agriculture sector, Sh4.5 billion