Video yükleniyor...

Video Yüklenemedi

Ana Sayfaya Dön

This week has been heavy from a Public Finance standpoint. Here's where things stand as of now: Finance Bill 2025 · Finance Bill 2025 sailed through the Committee of the Whole House · The next thing we expect to see is the Vellum (cleaned up version following the clause-by-clause...

AmbokoJH's profile picture

Julians Amboko

82,194 subscribers

70,538 görüntüleme • 1 yıl önce •via X (Twitter)

Haberler & PolitikaFinans
LIVE

Anya Rossi• Live Now

Private livecam show

5 Yorum

Julians Amboko profil fotoğrafı
Julians Amboko1 yıl önce

Appropriation Bill 2025 · Appropriation Bill 2025 sailed through the Committee of the Whole House in a pretty fast fashion · Just like Finance Bill, the next thing we expect to see is the Vellum (cleaned up version following the clause-by-clause amendments) after which it heads for the President's assent · Again just like Finance Bill, June 30th is the sunset date by which it must be signed because the financial year 2025/26 kicks off on July 1st & there'll be spending · Size of 2025/26 budget is Kes 4.291 trillion, deficit is projected at Kes 933.2 billion (4.85% of GDP) with GOK looking to borrow Kes 635.5 billion from the domestic market & Kes 287.7 billion from the external market 2/4

Julians Amboko profil fotoğrafı
Julians Amboko1 yıl önce

Mediated Division of Revenue Bill 2025 · The National Assembly adopted the Mediation Committee on the Division of Revenue Bill 2025 · This means the National Assembly approved the mediated version of the Division of Revenue Bill 2025 · As a result, the 2025/26 Equitable Share allocation for counties will now be Kes 415.0 billion · It's a compromise, higher than the Kes 405.0 billion that the National Assembly had proposed & lower than the Kes 460.0 billion that the Senate had proposed · This compromise pushed the 2025/26 higher than projected during the presentation of the Budget Speech on June 12th 3/4

Julians Amboko profil fotoğrafı
Julians Amboko1 yıl önce

Supplementary Budget III 2024/25 · The documents were tabled in the House on Wednesday just before the Finance Bill '25 Committee of the Whole House · On the whole, there's a Kes 25.03 billion increase in the size of the budget (i.e. Supp. III vs Supp. II), if you compare Supp. III vs the baseline we can see a Kes 22.44 billion increase · If you then do the math, 2024/25 budget size now stands at Kes 4.032 trillion · Ordinary revenue target for 2024/25 have been revised downward again, the target is now Kes 2.496 trillion, down from Kes 2.581 trillion 4/4

BigDave🌎 profil fotoğrafı
BigDave🌎1 yıl önce

Isnt there a limit of Mps who should be present for this to happen?Empty seats everywhere ,Do the few Mps represent the whole country?

Hammurabi profil fotoğrafı
Hammurabi1 yıl önce

Thank you 🙏🏾

Benzer Videolar

𝐒𝐞𝐧𝐚𝐭𝐞 𝐩𝐚𝐬𝐬𝐞𝐬 𝐭𝐚𝐱 𝐫𝐞𝐟𝐨𝐫𝐦 𝐛𝐢𝐥𝐥𝐬 The Nigeria Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill have been considered for third reading and passed by the Senate. This follows the presentation today by its special committee, the finance committee, and clause by clause consideration of the bills. The remaining two of the four tax reform bills, i.e. the Nigeria Tax Bill and the Joint Revenue Board (Establishment) Bill are slated for passage by tomorrow, 8 May 2025.
9:04

𝐒𝐞𝐧𝐚𝐭𝐞 𝐩𝐚𝐬𝐬𝐞𝐬 𝐭𝐚𝐱 𝐫𝐞𝐟𝐨𝐫𝐦 𝐛𝐢𝐥𝐥𝐬 The Nigeria Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill have been considered for third reading and passed by the Senate. This follows the presentation today by its special committee, the finance committee, and clause by clause consideration of the bills. The remaining two of the four tax reform bills, i.e. the Nigeria Tax Bill and the Joint Revenue Board (Establishment) Bill are slated for passage by tomorrow, 8 May 2025.

Taiwo Oyedele

113,334 görüntüleme • 1 yıl önce

UPDATE: Supplementary Budget III 2024/25 approved by National Assembly Supplementary Budget III sailed through the National Assembly this morning. Quite some changes from what we saw come from the National Treasury. Here's the summary: · National Treasury had proposed a Kes 37.58 billion increase in recurrent spending via Supp. Budget III, the National Assembly has approved Kes 39.11 billion · National Treasury had proposed a Kes 18.63 billion cut in development spending via Supp. Budget III, National Assembly has approved a much leaner cut at Kes 3.38 billion · Overall, the National Treasury had proposed an overall increase of Kes 25.03 billion increase in the size of the budget (i.e. Supp. III vs Supp. II), National Assembly has bumped this up further to Kes 35.74 billion · So whereas National Treasury's proposal sought to increase the 2024/25 budget to Kes 4.032 trillion compared to Supp. Budget II adjustments, the National Assembly's adjustments have now pushed it to Kes 4.042 trillion
1:20

UPDATE: Supplementary Budget III 2024/25 approved by National Assembly Supplementary Budget III sailed through the National Assembly this morning. Quite some changes from what we saw come from the National Treasury. Here's the summary: · National Treasury had proposed a Kes 37.58 billion increase in recurrent spending via Supp. Budget III, the National Assembly has approved Kes 39.11 billion · National Treasury had proposed a Kes 18.63 billion cut in development spending via Supp. Budget III, National Assembly has approved a much leaner cut at Kes 3.38 billion · Overall, the National Treasury had proposed an overall increase of Kes 25.03 billion increase in the size of the budget (i.e. Supp. III vs Supp. II), National Assembly has bumped this up further to Kes 35.74 billion · So whereas National Treasury's proposal sought to increase the 2024/25 budget to Kes 4.032 trillion compared to Supp. Budget II adjustments, the National Assembly's adjustments have now pushed it to Kes 4.042 trillion

Julians Amboko

43,761 görüntüleme • 1 yıl önce

Why Finance Bill 2026 skipped PAYE bands adjustments National Treasury CS, John Mbadi, says that despite its absence in the Finance Bill 2026 Green Copy, adjustments to PAYE bands are not off the table & they will likely be factored in (key word here is 'likely'). Mbadi says that the headache the National Treasury has is that the proposed adjustment of bumping up the base from Kes 24,000 to Kes 30,000 & adjusting the rate downward for Kes 30,000 - Kes 50,000 would leave the Exchequer with a Kes 35.0 billion revenue gap. Musings... Sounds like a linear simulation that ignores the transmission of the additional disposable income into spending & additional indirect taxes (VAT, excises)
1:50

Why Finance Bill 2026 skipped PAYE bands adjustments National Treasury CS, John Mbadi, says that despite its absence in the Finance Bill 2026 Green Copy, adjustments to PAYE bands are not off the table & they will likely be factored in (key word here is 'likely'). Mbadi says that the headache the National Treasury has is that the proposed adjustment of bumping up the base from Kes 24,000 to Kes 30,000 & adjusting the rate downward for Kes 30,000 - Kes 50,000 would leave the Exchequer with a Kes 35.0 billion revenue gap. Musings... Sounds like a linear simulation that ignores the transmission of the additional disposable income into spending & additional indirect taxes (VAT, excises)

Julians Amboko

37,405 görüntüleme • 2 ay önce

I have covered the budget cycle for a while now & yesterday was the first time I witnessed the Chairperson Budget & Appropriations, Hon Sam Atandi, go head-to-head with the Chairperson Finance & Planning, Hon FCPA Kuria Kimani, CBS - MP Molo . The issue at hand was that the Chairperson Budget & Appropriations demanded visibility of the revenue trade-off the amendments being introduced by the Chairperson Finance & Planning would have on the 2025/26 projected revenue of Kes 3.321 trillion. The Speaker/Chair of the session intervened & told them this was unbecoming of Parliamentary etiquette. · My view is that the Speaker/Chair of the session misses the point here. The Chairperson Budget & Appropriations is asking a question about the costing of proposals in the Finance Bill, why doesn't the National Treasury, The National Treasury, make costings public? · This is not just a matter of Parliamentary etiquette, this is a matter of public finance transparency & accountability & The National Treasury should be compelled to be making costings disclosures across all proposals
3:09

I have covered the budget cycle for a while now & yesterday was the first time I witnessed the Chairperson Budget & Appropriations, Hon Sam Atandi, go head-to-head with the Chairperson Finance & Planning, Hon FCPA Kuria Kimani, CBS - MP Molo . The issue at hand was that the Chairperson Budget & Appropriations demanded visibility of the revenue trade-off the amendments being introduced by the Chairperson Finance & Planning would have on the 2025/26 projected revenue of Kes 3.321 trillion. The Speaker/Chair of the session intervened & told them this was unbecoming of Parliamentary etiquette. · My view is that the Speaker/Chair of the session misses the point here. The Chairperson Budget & Appropriations is asking a question about the costing of proposals in the Finance Bill, why doesn't the National Treasury, The National Treasury, make costings public? · This is not just a matter of Parliamentary etiquette, this is a matter of public finance transparency & accountability & The National Treasury should be compelled to be making costings disclosures across all proposals

Julians Amboko

17,983 görüntüleme • 1 yıl önce

Through Finance Bill 2025, the government of Kenya is making a third attempt at introducing pay-to-play requirement when it comes to tax assessments issued by the Kenya Revenue Authority. Clause 42(v) of Finance Bill 2025 proposes to amend Section 42 of the Tax Procedures Act, Cap. 469B Laws of Kenya to allow the Commissioner of the Kenya Revenue Authority to issue an agency notice where a taxpayer has appealed against an assessment specified in a decision of the Tax Appeals Tribunal or court of law. We have seen similar proposals in the past via Finance Bill 2022 (which proposed that any appeal must be preceded by a deposit equivalent to 50.0% of the amount in contest) & via Finance Bill 2024 (which proposed that any appeal must be preceded by a deposit equivalent to 20.0% of the contested amount) This afternoon I joined colleagues from the Tax Research Centre at Strathmore University in challenging this proposal.
4:48

Through Finance Bill 2025, the government of Kenya is making a third attempt at introducing pay-to-play requirement when it comes to tax assessments issued by the Kenya Revenue Authority. Clause 42(v) of Finance Bill 2025 proposes to amend Section 42 of the Tax Procedures Act, Cap. 469B Laws of Kenya to allow the Commissioner of the Kenya Revenue Authority to issue an agency notice where a taxpayer has appealed against an assessment specified in a decision of the Tax Appeals Tribunal or court of law. We have seen similar proposals in the past via Finance Bill 2022 (which proposed that any appeal must be preceded by a deposit equivalent to 50.0% of the amount in contest) & via Finance Bill 2024 (which proposed that any appeal must be preceded by a deposit equivalent to 20.0% of the contested amount) This afternoon I joined colleagues from the Tax Research Centre at Strathmore University in challenging this proposal.

Julians Amboko

69,434 görüntüleme • 1 yıl önce

UPDATE: Kenya's Tax Laws (Amendment) Bill 2026 The National Treasury says: · We should expect to see a Tax Laws (Amendment) Bill 2026 tabled in the National Assembly this month (February 2026) · The Tax Laws (Amendment) Bill 2026 will propose to have 0.0% PAYE rate at Kes 30,000 · The next Kes 20,000 will be taxed at a rate of 25.0% Welcome proposals, we wait to see the Bill itself for certainly. That said, some questions: · Should we take it as a given that the Tax Laws (Amendment) Bill 2026 will be repealing the Kes 2,400 personal relief now that the base PAYE rate is being set at 0.0%? · Why have the Tax Laws (Amendment) Bill 2026 in February & then have Finance Bill 2026 in April? · Coming in such quick succession, don't we risk legislative fatigue & poor public participation on Finance Bill 2026? · We have some good lessons around this from the quick succession that characterised the Tax Laws (Amendment) Act 2024, the Tax Procedures (Amendment) Act 2024 & Finance Bill 2025 · What will be the effective date of the measures proposed in the Tax Laws (Amendment) Bill 2026? Depending on the choice effective date, don't we risk complicating income tax return filing for the period given that we will be straddling two PAYE regimes? Already, filing has been reasonably complicated by Income & Expenses Validation
4:29

UPDATE: Kenya's Tax Laws (Amendment) Bill 2026 The National Treasury says: · We should expect to see a Tax Laws (Amendment) Bill 2026 tabled in the National Assembly this month (February 2026) · The Tax Laws (Amendment) Bill 2026 will propose to have 0.0% PAYE rate at Kes 30,000 · The next Kes 20,000 will be taxed at a rate of 25.0% Welcome proposals, we wait to see the Bill itself for certainly. That said, some questions: · Should we take it as a given that the Tax Laws (Amendment) Bill 2026 will be repealing the Kes 2,400 personal relief now that the base PAYE rate is being set at 0.0%? · Why have the Tax Laws (Amendment) Bill 2026 in February & then have Finance Bill 2026 in April? · Coming in such quick succession, don't we risk legislative fatigue & poor public participation on Finance Bill 2026? · We have some good lessons around this from the quick succession that characterised the Tax Laws (Amendment) Act 2024, the Tax Procedures (Amendment) Act 2024 & Finance Bill 2025 · What will be the effective date of the measures proposed in the Tax Laws (Amendment) Bill 2026? Depending on the choice effective date, don't we risk complicating income tax return filing for the period given that we will be straddling two PAYE regimes? Already, filing has been reasonably complicated by Income & Expenses Validation

Julians Amboko

81,968 görüntüleme • 6 ay önce

We asked National Treasury what became of the Business Laws (Amendment) Bill 2025. After the Draft version was made public (see quoted tweet for highlights), it just went quiet. Given the CS's response, I believe proposed amendments to Sec17 of the VAT Act presented a challenge for the government. He, however, talks about a Tax Laws (Amendment) legislation. Could we be seeing one soon? I highly doubt. Given that National Treasury has made an invitation for comments on 2026/27 tax proposals, it's possible we are now just looking forward to Finance Bill '26
1:03

We asked National Treasury what became of the Business Laws (Amendment) Bill 2025. After the Draft version was made public (see quoted tweet for highlights), it just went quiet. Given the CS's response, I believe proposed amendments to Sec17 of the VAT Act presented a challenge for the government. He, however, talks about a Tax Laws (Amendment) legislation. Could we be seeing one soon? I highly doubt. Given that National Treasury has made an invitation for comments on 2026/27 tax proposals, it's possible we are now just looking forward to Finance Bill '26

Julians Amboko

10,238 görüntüleme • 7 ay önce

The perennial debate on Agency Notices & pay-to-play was in full display in the National Assembly this evening. An amended version of Finance Bill 2026's New Clause 47A, moved by the Majority Leader, has taken the House into division as members shot down a proposal to introduce a mandatory deposit of 50.0% of disputed principal taxes before filing an appeal. The National Treasury & the Revenue Authority lose for the fourth consecutive time, the proposal is dropped...but with a promise that it will be reconsidered upon further review (Finance Bill 2027). New Clause 47A has been dropped...Both the amendment & further amendment (i.e. the 50.0% principal tax deposit) withdrawn!
8:17

The perennial debate on Agency Notices & pay-to-play was in full display in the National Assembly this evening. An amended version of Finance Bill 2026's New Clause 47A, moved by the Majority Leader, has taken the House into division as members shot down a proposal to introduce a mandatory deposit of 50.0% of disputed principal taxes before filing an appeal. The National Treasury & the Revenue Authority lose for the fourth consecutive time, the proposal is dropped...but with a promise that it will be reconsidered upon further review (Finance Bill 2027). New Clause 47A has been dropped...Both the amendment & further amendment (i.e. the 50.0% principal tax deposit) withdrawn!

Julians Amboko

22,898 görüntüleme • 1 ay önce

UPDATE: GOK's US$1.91 billion partial divestiture in Safaricom Plc approved The National Assembly's Public Debt & Privatization Committee Chair Hon. Abdi Shuriye has moved a motion for the House to adopt a joint report by his Committee & that of Finance and National Planning on the Partial sale of Safaricom shares owned by the Government. The two committees recommend: · The National Assembly approves the proposed US$1.6 billion (Kes 204.3 billion) partial divestiture by the government to Vodafone Kenya · The effective date of the National Assembly approval be April 1st, 2026 or any other later date pegged on the prerequisite approvals · The transaction shall be undertaken & concluded through the block trade platform of the Nairobi Securities Exchange · The government shall receive US$ 309 million (Kes 40.2 billion) upfront payment in lie of future dividend payments · All proceeds to be wired into the National Infrastructure Fund · There shall be no redundancy as part of this partial divestiture · There shall be no material change to the current Safaricom Plc ecosystem within 10 years of this partial divestiture
2:02

UPDATE: GOK's US$1.91 billion partial divestiture in Safaricom Plc approved The National Assembly's Public Debt & Privatization Committee Chair Hon. Abdi Shuriye has moved a motion for the House to adopt a joint report by his Committee & that of Finance and National Planning on the Partial sale of Safaricom shares owned by the Government. The two committees recommend: · The National Assembly approves the proposed US$1.6 billion (Kes 204.3 billion) partial divestiture by the government to Vodafone Kenya · The effective date of the National Assembly approval be April 1st, 2026 or any other later date pegged on the prerequisite approvals · The transaction shall be undertaken & concluded through the block trade platform of the Nairobi Securities Exchange · The government shall receive US$ 309 million (Kes 40.2 billion) upfront payment in lie of future dividend payments · All proceeds to be wired into the National Infrastructure Fund · There shall be no redundancy as part of this partial divestiture · There shall be no material change to the current Safaricom Plc ecosystem within 10 years of this partial divestiture

Julians Amboko

14,271 görüntüleme • 4 ay önce

The National Assembly has approved a motion to reduce the publication period of 6 bills from 14 to 12 days. The bills include: · Tax Laws (Amendment) Bill 2024 · Tax Procedures (Amendment) Bill 2024 · Business Laws (Amendment) Bill 2024 The 3 bills seek to mobilise an additional Kes 174.6 billion worth of revenue in 2024/25 through a raft of new proposals, a number of which were in the rescinded Finance Bill 2024. The reduction of the publication period seeks to create a window for public participation ahead of the Dec 5th long recess date for the National Assembly. So what are some of the key issues as we head into public participation? A 🧵
5:06

The National Assembly has approved a motion to reduce the publication period of 6 bills from 14 to 12 days. The bills include: · Tax Laws (Amendment) Bill 2024 · Tax Procedures (Amendment) Bill 2024 · Business Laws (Amendment) Bill 2024 The 3 bills seek to mobilise an additional Kes 174.6 billion worth of revenue in 2024/25 through a raft of new proposals, a number of which were in the rescinded Finance Bill 2024. The reduction of the publication period seeks to create a window for public participation ahead of the Dec 5th long recess date for the National Assembly. So what are some of the key issues as we head into public participation? A 🧵

Julians Amboko

50,814 görüntüleme • 1 yıl önce

Constitutional Amendment Bill (N0.3) unanimously passes to committee stage The contentious Constitutional Amendment Bill (N0.3) unanimously passed to the committee stage in the National Assembly earlier in the afternoon after the opposition neglected or failed to call for a critical division of the house for MPs opposed to the legislative changes to vote against it. About 30 MPs were opposed to the bill in its entirety after a record-breaking fierce debate. The failure by the opposition to call for division of the house let the bill, which has far-reaching political implications, pass to the committee stage unanimously, without formal opposition. In terms of process, the presiding officer first judges the will of the house using a voice vote ("Ayes" vs. "Nays"). If an MP challenges the presiding officer's ruling, they then can call for a division of the house. Bells are rung to summon all lawmakers to the chamber, the doors are locked, and MPs must physically move to opposite sides of the house (or have their names recorded) to provide an exact, verified tally of votes. A minimum simple majority was required to pass the bill to the committee stage. The committee stage of the bill is the third step in the legislative process. It is a detailed, clause-by-clause examination of the proposals that takes place after the second reading and general debate. During the committee stage, the house resolves into a committee of the whole house rather than meeting as the standard legislative body, allowing for more conversational and repeated speaking opportunities. Members meticulously scrutinise each section or clause of the bill. The committee goes through the bill clause-by-clause sequentially, voting on each clause or block of clauses. MPs and ministers can propose specific alterations, additions, or removals to individual clauses. Any proposed amendment is debated, and the committee votes on whether to accept or reject the change. Once the committee finishes reviewing all clauses and finalising amendments, the bill moves to the report stage, where the committee officially reports its work back to the house for final confirmation before the third reading. Because it is where the exact wording of the proposed law or amendment is finalised, this phase is often heavily debated. For example, this bill required intense, late-night debate in the National Assembly last night before advancing to the committee stage. After the amendments have been adopted, another vote is called in the house to pass the bill by a two-thirds majority before the same process is repeated in the upper house, senate. If senate makes some changes to the bill, it then goes back to the lower house, National Assembly, for voting before being to sent to the President for assent.
0:55

Constitutional Amendment Bill (N0.3) unanimously passes to committee stage The contentious Constitutional Amendment Bill (N0.3) unanimously passed to the committee stage in the National Assembly earlier in the afternoon after the opposition neglected or failed to call for a critical division of the house for MPs opposed to the legislative changes to vote against it. About 30 MPs were opposed to the bill in its entirety after a record-breaking fierce debate. The failure by the opposition to call for division of the house let the bill, which has far-reaching political implications, pass to the committee stage unanimously, without formal opposition. In terms of process, the presiding officer first judges the will of the house using a voice vote ("Ayes" vs. "Nays"). If an MP challenges the presiding officer's ruling, they then can call for a division of the house. Bells are rung to summon all lawmakers to the chamber, the doors are locked, and MPs must physically move to opposite sides of the house (or have their names recorded) to provide an exact, verified tally of votes. A minimum simple majority was required to pass the bill to the committee stage. The committee stage of the bill is the third step in the legislative process. It is a detailed, clause-by-clause examination of the proposals that takes place after the second reading and general debate. During the committee stage, the house resolves into a committee of the whole house rather than meeting as the standard legislative body, allowing for more conversational and repeated speaking opportunities. Members meticulously scrutinise each section or clause of the bill. The committee goes through the bill clause-by-clause sequentially, voting on each clause or block of clauses. MPs and ministers can propose specific alterations, additions, or removals to individual clauses. Any proposed amendment is debated, and the committee votes on whether to accept or reject the change. Once the committee finishes reviewing all clauses and finalising amendments, the bill moves to the report stage, where the committee officially reports its work back to the house for final confirmation before the third reading. Because it is where the exact wording of the proposed law or amendment is finalised, this phase is often heavily debated. For example, this bill required intense, late-night debate in the National Assembly last night before advancing to the committee stage. After the amendments have been adopted, another vote is called in the house to pass the bill by a two-thirds majority before the same process is repeated in the upper house, senate. If senate makes some changes to the bill, it then goes back to the lower house, National Assembly, for voting before being to sent to the President for assent.

TheNewsHawks

17,671 görüntüleme • 1 ay önce

𝐀𝐥𝐥 𝐭𝐡𝐞 𝐭𝐚𝐱 𝐫𝐞𝐟𝐨𝐫𝐦 𝐛𝐢𝐥𝐥𝐬 𝐡𝐚𝐯𝐞 𝐧𝐨𝐰 𝐛𝐞𝐞𝐧 𝐩𝐚𝐬𝐬𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐬𝐬𝐞𝐦𝐛𝐥𝐲 8 May 2025, the Senate, today passed the two remaining tax bills, that is, the Nigeria Tax Bill and the Joint Revenue Board (Establishment) Bill. This follows the passage of the other two bills yesterday, that is, the Nigeria Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill. Consequently, all four tax reform bills have now been considered for third reading and passed by both the House of Representatives and the Senate. The next step is for the conference committee which has been set up by the National Assembly to harmonise areas of differences in the two versions of the bills as passed by the House of Representatives and the Senate before transmission to Mr. President for assent.
3:15

𝐀𝐥𝐥 𝐭𝐡𝐞 𝐭𝐚𝐱 𝐫𝐞𝐟𝐨𝐫𝐦 𝐛𝐢𝐥𝐥𝐬 𝐡𝐚𝐯𝐞 𝐧𝐨𝐰 𝐛𝐞𝐞𝐧 𝐩𝐚𝐬𝐬𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐬𝐬𝐞𝐦𝐛𝐥𝐲 8 May 2025, the Senate, today passed the two remaining tax bills, that is, the Nigeria Tax Bill and the Joint Revenue Board (Establishment) Bill. This follows the passage of the other two bills yesterday, that is, the Nigeria Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill. Consequently, all four tax reform bills have now been considered for third reading and passed by both the House of Representatives and the Senate. The next step is for the conference committee which has been set up by the National Assembly to harmonise areas of differences in the two versions of the bills as passed by the House of Representatives and the Senate before transmission to Mr. President for assent.

Taiwo Oyedele

81,817 görüntüleme • 1 yıl önce

Speaking in Kiambu National Polytechnic on Budget & Privatisation, National Treasury CS, John Mbadi has termed Kes 30,000/month as "survival salary" that government has "no business taxing". I hope this means Finance Bill 2026 includes a proposal to revise the tax free income threshold (post-personal relief) from kes 24,000 to Kes 30,000. It would be a much needed breather for Kenyans. Last year my colleagues & I from the Tax Research Centre at Strathmore University made this proposal to the National Assembly Finance & Planning Committee, it didn't sail through (see quoted tweet).
1:03

Speaking in Kiambu National Polytechnic on Budget & Privatisation, National Treasury CS, John Mbadi has termed Kes 30,000/month as "survival salary" that government has "no business taxing". I hope this means Finance Bill 2026 includes a proposal to revise the tax free income threshold (post-personal relief) from kes 24,000 to Kes 30,000. It would be a much needed breather for Kenyans. Last year my colleagues & I from the Tax Research Centre at Strathmore University made this proposal to the National Assembly Finance & Planning Committee, it didn't sail through (see quoted tweet).

Julians Amboko

80,857 görüntüleme • 6 ay önce

President William Ruto has this morning signed the Supplementary Appropriations II 2024/25 into law. What are seeing here? · Recurrent spending increases by Kes 138.87 billion · Development spending decreases by Kes 25.0 billion · Total national government ministerial expenditure increases by Kes 113.87 billion · Judiciary budget increases by Kes 470.0 million Overall changes to the 2024/25 budget: · Budget net redemptions stands at Kes 3.991 trillion (in essence, we pretty much are back to where we were in the initial 2024/25 budget...did we really need Supp. I?) · Fiscal deficit widens to Kes 875.54 billion (the tabled Supp. II had put this at Kes 862.47 billion) · Fiscal deficit as a % of GDP 5.02% (the tabled Supp. II budget had put this at 4.97% of GDP) · There was a deal with the IMF that the fiscal deficit would not exceed 4.3% of GDP in 2024/25 (earlier ceiling was actually 4.0%, then Finance Bill 2024 collapsed)...but why would we care now? We've pulled the plug on the 9th Review
1:50

President William Ruto has this morning signed the Supplementary Appropriations II 2024/25 into law. What are seeing here? · Recurrent spending increases by Kes 138.87 billion · Development spending decreases by Kes 25.0 billion · Total national government ministerial expenditure increases by Kes 113.87 billion · Judiciary budget increases by Kes 470.0 million Overall changes to the 2024/25 budget: · Budget net redemptions stands at Kes 3.991 trillion (in essence, we pretty much are back to where we were in the initial 2024/25 budget...did we really need Supp. I?) · Fiscal deficit widens to Kes 875.54 billion (the tabled Supp. II had put this at Kes 862.47 billion) · Fiscal deficit as a % of GDP 5.02% (the tabled Supp. II budget had put this at 4.97% of GDP) · There was a deal with the IMF that the fiscal deficit would not exceed 4.3% of GDP in 2024/25 (earlier ceiling was actually 4.0%, then Finance Bill 2024 collapsed)...but why would we care now? We've pulled the plug on the 9th Review

Julians Amboko

42,631 görüntüleme • 1 yıl önce

Gituku: In June 2025 before the Gen Z demos, the National Assembly had approved Ksh. 9.5B for State House as an allocation. Following the withdrawal of the Finance Bill, State House allocation was reduced to Ksh. 4.3B in July 2024. Just today, supplementary budget 3 has been signed and in it there is Ksh. 12B for State House. The final figure is now higher than the original allocation and the promise was to reduce allocations #CitizenNewsGang Sam Gituku
4:14

Gituku: In June 2025 before the Gen Z demos, the National Assembly had approved Ksh. 9.5B for State House as an allocation. Following the withdrawal of the Finance Bill, State House allocation was reduced to Ksh. 4.3B in July 2024. Just today, supplementary budget 3 has been signed and in it there is Ksh. 12B for State House. The final figure is now higher than the original allocation and the promise was to reduce allocations #CitizenNewsGang Sam Gituku

Citizen TV Kenya

60,653 görüntüleme • 1 yıl önce

♦️Listen♦️ The EFF National Spokesperson Sinawo Thambo spoke with Sakina Kamwendo on SAFm regarding the decision by the Minister of Finance to withdraw the 2025 Budget and Reverse the VAT Increases - The EFF welcomes the proposed reversal of the VAT hikes, but is interested in the process moving forward. The Division of Revenue Bill and Appropriations Bill must be in line with the adopted Fiscal Framework and Revenue Proposal. The question becomes if the Minister is set to introduce two new versions of these bills, which Fiscal Framework will they be in line with as according to the Money Bills Amendment Act. There would now need to be a reversal the adoption of the previous Fiscal Framework, the introduction of a new Fiscal Framework and the new Division of Revenue Bill and Appropriations Bill - this is on top of his new amendment Bill. If this is possible before the 01st of May 2025, we more than welcome such efforts.
6:02

♦️Listen♦️ The EFF National Spokesperson Sinawo Thambo spoke with Sakina Kamwendo on SAFm regarding the decision by the Minister of Finance to withdraw the 2025 Budget and Reverse the VAT Increases - The EFF welcomes the proposed reversal of the VAT hikes, but is interested in the process moving forward. The Division of Revenue Bill and Appropriations Bill must be in line with the adopted Fiscal Framework and Revenue Proposal. The question becomes if the Minister is set to introduce two new versions of these bills, which Fiscal Framework will they be in line with as according to the Money Bills Amendment Act. There would now need to be a reversal the adoption of the previous Fiscal Framework, the introduction of a new Fiscal Framework and the new Division of Revenue Bill and Appropriations Bill - this is on top of his new amendment Bill. If this is possible before the 01st of May 2025, we more than welcome such efforts.

Economic Freedom Fighters

14,759 görüntüleme • 1 yıl önce

National Treasury CS on Supplementary Budget I 202526: 1. We are likely to see it in Feb when the National Assembly resumes business 2. Security, Education, Primary Health & the Social Health Insurance Programme (SHA) have presented spending pressures 3. If revenue doesn't perform, GOK will have to revise downward the size of the budget On point No.3, Q1 2025/26 closed with revenue mobilised at Kes 49.9 billion behind target (see quoted tweet). The urgency for cutting down the size of budget 2025/26 was already crystal clear by close of Q1, not sure what other signal Treasury is still waiting for
3:05

National Treasury CS on Supplementary Budget I 202526: 1. We are likely to see it in Feb when the National Assembly resumes business 2. Security, Education, Primary Health & the Social Health Insurance Programme (SHA) have presented spending pressures 3. If revenue doesn't perform, GOK will have to revise downward the size of the budget On point No.3, Q1 2025/26 closed with revenue mobilised at Kes 49.9 billion behind target (see quoted tweet). The urgency for cutting down the size of budget 2025/26 was already crystal clear by close of Q1, not sure what other signal Treasury is still waiting for

Julians Amboko

28,880 görüntüleme • 7 ay önce

My key take aways from the meeting between President William Ruto & the Kenya Private Sector Alliance (KEPSA KENYA) this morning. A 🧵 · We should expect to see a Business Laws (Amendment) Bill 2025 further down the road in 2025 · The President says he has directed the Ministry of Investments, Trade & Industry to table the Bill before the Cabinet by close of August 2025 · The President says the Bill will address issues that were not addressed via Finance Act 2025 Musings: · It looks like the path (post-Finance Bill 2024) Kenya Kwanza has chosen is for staggered amendments (i.e. some come in via Finance Act IN Q2 then the second tranche comes in via Tax/Business Laws Amendments in Q4) · This also played out last year with the Tax Laws & Business Laws (Amendment) Acts that kicked in on Dec 27th · I wonder what issues the Business Laws (Amendment) Bill 2025 will be focusing on though?
0:34

My key take aways from the meeting between President William Ruto & the Kenya Private Sector Alliance (KEPSA KENYA) this morning. A 🧵 · We should expect to see a Business Laws (Amendment) Bill 2025 further down the road in 2025 · The President says he has directed the Ministry of Investments, Trade & Industry to table the Bill before the Cabinet by close of August 2025 · The President says the Bill will address issues that were not addressed via Finance Act 2025 Musings: · It looks like the path (post-Finance Bill 2024) Kenya Kwanza has chosen is for staggered amendments (i.e. some come in via Finance Act IN Q2 then the second tranche comes in via Tax/Business Laws Amendments in Q4) · This also played out last year with the Tax Laws & Business Laws (Amendment) Acts that kicked in on Dec 27th · I wonder what issues the Business Laws (Amendment) Bill 2025 will be focusing on though?

Julians Amboko

47,986 görüntüleme • 1 yıl önce

Delighted to have joined CNN this evening to give some colour to the protests dubbed #RejectFinanceBill2024 that have rocked Kenya in the build up to the 2nd Reading of the revenue raising proposal which seeks to mobilise Kes 346.7 billion worth of additional tax revenue in 2024/25. As I have indicated right from the outset, the one distinguishing trait of Finance Bill 2024 is just how aggressively it leans towards indirect taxes & that was bound to be a live wire given the scope of reach & progressivity minefield it creates in tax administration.
4:40

Delighted to have joined CNN this evening to give some colour to the protests dubbed #RejectFinanceBill2024 that have rocked Kenya in the build up to the 2nd Reading of the revenue raising proposal which seeks to mobilise Kes 346.7 billion worth of additional tax revenue in 2024/25. As I have indicated right from the outset, the one distinguishing trait of Finance Bill 2024 is just how aggressively it leans towards indirect taxes & that was bound to be a live wire given the scope of reach & progressivity minefield it creates in tax administration.

Julians Amboko

98,760 görüntüleme • 2 yıl önce

My key take aways from National Treasury CS, John Mbadi's, update on the government's partial divestiture from Safaricom Plc. · This is part of the state's growing leaning towards non-tax revenue in domestic resource mobilisation as it slow pedals on tax revenue. Key thing to remember here is that we saw this with both the Tax Laws (Amendment) Acts '24 & more recently the Finance Act '25. 2025/26 AIA is projected at Kes 567.0 billion. · The proceeds from this engagement ( ~ US$1.91 billion inclusive of the dividend swap arrangement) will be seed capital for both the Infrastructure Fund & the Sovereign Wealth Fund. Key thing to remember here is that the projected matching associated with the Infrastructure Fund is 1:10 (i.e. for every Kes 1.0 from privatisation proceeds, the state will seek to crowd in Kes 10.0 worth of private institutional capital. Also, whereas we have seen the Draft Sovereign Wealth Fund Bill '25, we are yet to see the Draft Infrastructure Fund Bill '25. · The transaction is geared towards strengthening Safaricom's capacity for the investment required for future developments (5G roll out & regional expansion are mentioned) · It's a shareholder level adjustment that isn't expected to affect the company's day-to-day operations · At any given time, the Chairman & CEO of Safaricom Plc will be Kenyan citizens · Independent Directors will at all times have Kenyans being the majority
5:19

My key take aways from National Treasury CS, John Mbadi's, update on the government's partial divestiture from Safaricom Plc. · This is part of the state's growing leaning towards non-tax revenue in domestic resource mobilisation as it slow pedals on tax revenue. Key thing to remember here is that we saw this with both the Tax Laws (Amendment) Acts '24 & more recently the Finance Act '25. 2025/26 AIA is projected at Kes 567.0 billion. · The proceeds from this engagement ( ~ US$1.91 billion inclusive of the dividend swap arrangement) will be seed capital for both the Infrastructure Fund & the Sovereign Wealth Fund. Key thing to remember here is that the projected matching associated with the Infrastructure Fund is 1:10 (i.e. for every Kes 1.0 from privatisation proceeds, the state will seek to crowd in Kes 10.0 worth of private institutional capital. Also, whereas we have seen the Draft Sovereign Wealth Fund Bill '25, we are yet to see the Draft Infrastructure Fund Bill '25. · The transaction is geared towards strengthening Safaricom's capacity for the investment required for future developments (5G roll out & regional expansion are mentioned) · It's a shareholder level adjustment that isn't expected to affect the company's day-to-day operations · At any given time, the Chairman & CEO of Safaricom Plc will be Kenyan citizens · Independent Directors will at all times have Kenyans being the majority

Julians Amboko

34,526 görüntüleme • 8 ay önce