President William Ruto at State House, Nairobi. [File, Standard]
Despite the rejection of the Finance Bill 2024 by Kenyans and its eventual withdrawal by the government, Kenyans might not be off the hook yet.
The government could still explore ways of introducing new or additional taxes, levies, and fees through the review of other laws, something that the National Treasury Cabinet Secretary nominee John Mbadi said he would look into if he got the job.
In withdrawing the Finance Bill 2024, the government noted this would result in a Sh344.3 billion revenue gap, money that was expected to be raised through the tax measures contained in the bill.
The government has drawn up a Supplementary Budget that factors in the absence of a Finance Bill this year through cutting overall spending as well as increasing the fiscal deficit, which means it will also have to borrow more than it had expected.
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