Saturday, May 27, 2023 –It has emerged that several lobby and interest groups have rejected President William Ruto’s new Finance Bill 2023.
This development occurred during the ongoing hearings taking place at the National Assembly before the National Assembly Finance Committee.
In a statement by the Committee officials, 55 out of 66 groups as well as workers unions, have already expressed their reservations on the controversial Bill that touches on the Housing Finance and taxation.
Homenews.co.ke has learnt that Kenya Airline Pilots Association KAPA was first to question the mandatory Housing Fund which it now wants to be voluntary.
The union argued that most Kenyans who are in business and working had already started investing in housing by themselves and, therefore, taking them to that direction is dictatorial.
Additionally, the lobby groups sought to know how the contributors will be involved in both the design and choosing model of their houses.
“The association proposed the housing levy be made voluntary to those wishing to own houses under a government programme and also for the government to suspend the housing plan until when there will be an increment in salaries and a reduction in the cost of living,” read the statement in part.
Speaking in the same sitting, the Petroleum Institute of East Africa PIEA proposed changes in the taxes on petroleum products.
They want a clearer and detailed execution plan on how oil marketers will receive their refunds for the products in the comarket.
This, they argued, will make fuel prices to drastically go down; which is a benefit to the consumers.
Surveyors of Kenya also presented their proposals against the introduction of withholding tax on rental income collected by agents appointed by the Commissioner.
“It will be impractical to remit tax in 24 hours given the logistics required and the jamming of the KRA portal at times,” partly, read the statement.
Several other new taxation plans were also opposed during the hearing session among these were withholding tax rate of 15 per cent on digital content creation and the Digital Asset Tax DAT of 3 per cent.