The National Assembly’s Departmental Committee on Finance on Monday received submissions from the Law Society of Kenya, WestMinister Consulting and Anjarwalla & Khanna Advocates who gave their misgivings on a number of provisions contained in the proposed legislation.
The committee chaired by Molo MP, Kimani Kuria is rolling out week-long public hearings on the Finance Bill,2023.
The Bill has a timeline of approval of 30th June to coincide with the enactment of the Appropriation Law, 2023.
This is in accordance with the provisions of the Public Finance Management Act, 2012 as amended in 2019 to allow the Finance Bill be applied by 30th of June each financial year.
The Bill which contains (84) clauses, seeks to amend various tax laws and other related statutes to better the operations of financial sector as well as enhanced measures for raising national revenue.