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Suggested Amendments to The 2024 Finance Bill

The government has come out today with amendments to the finance bill. The government has been seen to hear the pleas and cries of Kenyans.

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The Changes read out by Kimani Kuria, the Chair of the Finance Bill committee, include;

1. Removal of the 16% taxation on bread.

2. No increase in mobile transfer services leaving it at 15%.

3. Removal of excise duty on vegetable oil.

4. Imposing the Eco Levy on only imported finished goods. The eco levy on tyres has also been dropped. In this, the levy will no longer affect diapers and sanitary pads.

5. eTims receipts will not be needed for businesses with a turnover below 1 million.

6. Removal of VAT on transportation of sugar.

7. Alcohol will be taxed by its content. The higher the alcohol content the higher the tax.

8. Excise duty will be imposed on imported eggs, onions, and other groceries.

9. Increase the amount exempted from taxable pensions from Ksh 20,000 to Ksh 30,000 per month.

10. Removal of the suggested 2.5% per annum Motor vehicle tax.

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