Treasury PS Kiptoo says Gov’t seeking to raise Ksh.346B with Finance Bill 2024
National Treasury Principal Secretary Chris Kiptoo
has defended proposed tax measures contained in the contentious Finance Bill,
2024 saying the legislation aims to raise Ksh.346.7 billion.
Kiptoo, who presented his views before the
National Assembly’s Finance and Planning Committee on Tuesday, stated that the
new tax measures were informed by Kenya's burgeoning public debt that he
insists must be reduced.
"We have no room to take more debt, this
is what is informing Finance Bill 2024. We have a 3-year internal mechanism
which we can achieve by only increasing domestic revenue and cutting
expenditure," Kiptoo said.
Some members of the committee however
rejected various proposals in the Bill saying they will increase the financial
burden on Kenyans.
"You need to balance because Kenyans are
also burdened by increased taxation," the committee Chair Kuria Kimani
said.
Other government agencies and departments
likewise submitted their views before the committee, justifying new tax
proposals in the Bill.
"We have increased road maintenance levy
by Ksh.7 to expand road maintenance and construction," Transport CS
Kipchumba Murkomen said.
"We are just adding 5 dollars tax on
baby diapers," National Environment Management Authority (NEMA) Director
General Boru Mamo said.
"How dare you say the tax is only 5
dollars on basic products such as baby diapers? Do you think an ordinary
citizen can afford Ksh.650 like you? We reject this proposal," Kigumo MP
Joseph Munyoro countered.
With the official closure of the public participation
exercise on the controversial Bill, the committee will now retreat to compile
its report before tabling it next week.
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