Azimio parliamentary group meets over proposed Finance Bill

The Finance Bill, 2024 was published on May 9 and is set to be subjected to public participation thereafter.

In Summary
  • The Bill contains tax proposals that the Kenya Kwanza government wants to use to raise revenue and finance its ambitious projects.
  • One of the proposals is the introduction of a Motor Vehicle Tax, with a rate of 2.5 per cent of the vehicle's value.
Senator Edwin Sifuna, National Assembly minority leader Opiyo Wandayi and ODM deputy party leader Wycliffe Oparanya during the Azimio legislative Workshop on May 15, 2024
Senator Edwin Sifuna, National Assembly minority leader Opiyo Wandayi and ODM deputy party leader Wycliffe Oparanya during the Azimio legislative Workshop on May 15, 2024
Image: HANDOUT

The Azimio leadership and its parliamentary group are currently meeting in Nairobi over the proposed Finance Bill, 2024.

According to ODM Secretary General, Edwin Sifuna, the legislators will be joined by the Azimio leadership as well as the Azimio Economic Council and a Committee of experts.

Sifuna said the experts will take them through details of the proposed Bill ahead of its debate in Parliament.

The Nairobi Senator added the group will also discuss the National Dialogue Committee report ahead of its scheduled debate.

"The entire Azimio Parliamentary Group from the Senate and National Assembly being briefed by the Azimio Economic Council and Committee of experts on the Finance Bill 2024 and the NADCO Bills ahead of debate in Parliament," Sifuna said.

During the meeting dubbed Azimio Legislative Workshop, the legislators were joined by Azimio co-principal and Wiper party leader Kalonzo Musyoka.

The Finance Bill, 2024 was published on May 9 and is set to be subjected to public participation thereafter.

The Bill contains tax proposals that the Kenya Kwanza government wants to use to raise revenue and finance its ambitious projects.

One of the proposals is the introduction of a Motor Vehicle Tax, with a rate of 2.5 per cent of the vehicle's value.

The minimum tax payable to the Commissioner on each vehicle at the time of issuance of insurance cover will be Sh5,000 with a maximum amount of Sh100,000.

The Bill states that the calculation would be based on make, model, engine capacity and year of manufacture.

On Affordable Housing, the Bill places a caveat to all the owners of the houses by amending section 54 of No.4 of 2024 on its restrictions.

It states that except with prior consent of the board, a purchaser of a unit shall not by contract, agreement or otherwise sell his or her unit or any interest therein to any other person.

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