‘Our position to reject Finance Bill 2024 is same yesterday, today, tomorrow’ – Kioni
Jubilee Secretary General Jeremiah Kioni has declared his stance against the government's controversial Finance Bill 2024.
In a statement shared on his X account, Kioni emphasized his unwavering opposition to the bill.
The Jubilee party SG shared photos on his X account showing him alongside Embakasi East MP Babu Owino at the Central Police Station.
They were there in solidarity with protesters who had been detained following demonstrations on Tuesday, June 18, 2024, against the Finance Bill.
"Our position to #RejectFinanceBill2024 in total is the same as Yesterday, Today and Tomorrow. Stop the Bait and Switch," Kioni stated.
On Tuesday evening, Azimio leader Raila Odinga applauded the courageous individuals who participated in the protests against the Finance Bill 2024 in Nairobi’s Central Business District (CBD) on Tuesday, June 18, 2024.
Sharing a video of a young lady who was part of today’s demonstration, Raila expressed his pride and gratitude for the youngin’s courage to show up, oppose and reject the controversial bill.
“I’m a very proud father today! Hongera sana to the young lady and all those who bravely stood up for their rights!” Raila said.
In the video, the young lady conveyed a heartfelt message to the opposition leader, urging him to stay home and acknowledging his past efforts.
“Agwambo, this is a message to you, don’t come, don’t come outside. Please stay at home, we saw what you did for us. We miss you but don’t come, usitoke, now let us, tunatoka on your behalf,” she said.
Protests, teargas, amended bill
As pledged on social media, protesters assembled in large numbers, dressed in black clothing, and welcomed MPs with placards and chants of “Ruto must go” during the Parliamentary session.
These demonstrators filled Parliament Road, voicing their anger over the Finance Bill 2024, which proposed additional taxes on already burdened taxpayers.
In response to the overwhelming public pressure, the government was compelled to scrap some of the proposed taxes in the Bill.
The National Assembly’s Finance and Planning Committee Chairperson Kimani Kuria announced changes to the Finance Bill 2024.
Among the key adjustments, the proposed 16% VAT on bread and VAT on the transportation of sugar have been removed. Additionally, VAT on financial services and foreign exchange transactions has been scrapped, and there will be no increase in mobile money transfer fees.
“The proposed 16 per cent VAT on bread has been removed. VAT on the transportation of sugar has also been removed. VAT on financial services and foreign exchange transactions has also been removed,” Kuria said.
Other changes include the removal of the 2.5 per cent Motor Vehicle Tax and excise duty on vegetable oil. Levies on the Housing Fund and Social Health Insurance will be income tax deductible.
“Levies on the Housing Fund and Social Health Insurance will become income tax deductible. This means the levies will not attract income tax, putting much more money in the pockets of employees,” he disclosed.
Kuria said locally manufactured products such as sanitary towels, diapers, phones, computers, tyres, and motorcycles will be exempt from the Eco Levy. The VAT registration threshold has been increased from Ksh5 million to Ksh8 million, reducing the need for small businesses to register.
The responsibility for electronic invoicing ETIMS by the Kenya Revenue Authority (KRA) has been removed for farmers and small businesses with a turnover below Ksh1 million.
The Molo MP also said excise duty will be imposed on imported table eggs, onions, and potatoes. Additionally, the excise duty on alcoholic beverages will now be based on alcohol content rather than volume, with higher alcohol content attracting more duty. The exemption for pension contributions has also been increased from Ksh20,000 to Ksh30,000.
Ruto on amended bill
President William Ruto expressed confidence in the adjustments made to his contentious Finance Bill, which was tabled in Parliament on Tuesday, June 18, 2024.
In a statement shared on his X account after a Kenya Kwanza parliamentary group meeting at State House, Ruto attributed the revisions to the controversial bill to extensive public engagement.
“We have had a robust public engagement on the proposed Finance Bill. We have adjusted the document accordingly. We are glad we are having conversations about issues, and our institutions are working. This is how democracies function,” Ruto stated.
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