Cherargei: Gov’t has no choice but to pass Finance Bill
Written by Inka FM on 10 May 2023
Nandi Senator Samson Cherargei has noted that the parliament has no choice but to pass Finance Bill 2023.
Taking to his official Twitter account, Cherargei affirmed that not even a comma will be amended in the proposed Bill, he added that the government will either have to borrow or raise revenue through tax.
“On the Finance Bill 2023 the decision to pass by Parliament is not optional where even coma shall not be amended be because we either borrow more or raise our own revenue through taxation,” he stated.
The senator also faulted opposition leader Raila Odinga for contributing to the ballooning debts. He claimed that Raila stayed quiet when the previous administration was borrowing loans despite being a senior advisor to the former president.
“The serious public debt of 10T was put by Handshake govt of Uhuru/Tinga that the Kenyans are paying heavily now. Tinga did not raise an objection in handshake govt yet he was senior advisor to Uhuru then this hypocrisy should stop. This is because no new taxes are being introduced in the country. Kulipa ushuru ni kujitegemea!” he added.
The proposed Bill seeks to implement several changes such as a change in the turnover tax where the Bill proposes that the tax is applied on sales from as low as Ksh500, 000. The tax is being raised from 1 per cent to 3 per cent.
The Bill also proposes a deduction of 3 per cent of basic salaries to finance the affordable housing scheme.
Also proposed in the Bill is an increase in the pay-as-you-earn (PAYE) taxes from the current 30 per cent to 35 per cent on those earning 500,000 and above.
