Draft Finance Bill 2025 tabled in Parliament

The draft Finance Bill 2025 has been tabled in Parliament a day after ="https://www.standardmedia.co.ke/national/article/2001517757/cabinet-endorses-budget-cuts-and-reforms-to-curb-deficit-boost-economy">Cabinet approved it<.

According to a Cabinet dispatch released to newsrooms on Tuesday, the draft mainly focuses on sealing tax loopholes rather than introducing new taxes.

Speaker of the National Assembly Moses Wetangula confirmed receiving the draft stating that once approved by the National Assembly will form the basis for the Annual Appropriation Act. 

"Consequently, and pursuant to the provision of Standing Order 235, the estimates now stand committed to respective departmental committees and the Budget and Appropriations Committee for consideration," he stated.

The departmental committees will now be tasked with engaging with the relevant stakeholders to ensure the participation of all players in the process. 

According to law, the Budget and Appropriations Committee is required to discuss and review the budget estimates and make recommendations to the House, taking into account the recommendations of the departmental committees, the views of the Cabinet Secretary for the National Treasury, and the general public. 

Wetangula also called on the MPs to acquaint themselves with the contents of the estimates and ensure that their views and those of their electorate are taken into account during the consideration of the national budget.