President Kenyatta signs controversial Finance Bill into law
Friday September 21 2018
Kenya's President Uhuru Kenyatta signs a bill into law. On September 21, 2018 the President signed the Finance Bill into law introducing a controversial 8 per cent fuel tax among other levies. PHOTO | PSCU
President Uhuru Kenyatta on Friday signed the Finance Bill 2018 into law, that among other levies, imposes an eight per cent value added tax (VAT) on petroleum products.
The Bill was passed by the Kenyan parliament on Thursday during an acrimonious session characterised by loud protests, claims of irregular voting, jostling and name calling from lawmakers opposed to the fuel tax.
The government hopes to raise the Ksh130 billion ($1.3 billion) it needs to keep spending plans on track while protecting the integrity of the country’s fiscal integrity.