President Ruto Signs Controversial Finance Bill into Law

On Monday 26th 2023 President William Ruto signed the Finance Bill into Law at Statehouse Nairobi.

The controversial bill is officially law after the Bill was assented by the president.

The 2023 Finance Bill has been highly contested by Kenyans but the Members of Parliament voted yes to pass the bill regardless.

It is now official that there will be;

15% Tax for Digital Content creators, 1.5% housing levy deductions for Employed fellows.

Increased excise duty rates, including mobile money, where Taxpayers are to deposit 20% of the tax in dispute at the KRA.

The Miscellaneous Fees & Levies Act will revise the import declaration fee from 3.5% to 2.5%.

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