Silverio Omari
On Wednesday morning, President William Ruto assented to seven Amendment Bills covering a range of issues, including taxes, development, and statutory instruments. The event, held at State House, Nairobi, was attended by key leaders such as Prime Cabinet Secretary Musalia Mudavadi, Treasury Cabinet Secretary Mbadi, National Assembly Speaker Moses Wetang’ula, Attorney-General Dorcas Oduor, and Majority Leader Kimani Ichungw’ah, along with other Members of Parliament.
The Bills include:
1. The Tax Laws (Amendment) Bill, 2024
Introduced by Majority Leader Kimani Ichung’wah, this Bill aims to align Kenya’s tax policies with international standards and provide relief for employees, retirees, and businesses. It allows taxpayers to deduct contributions to post-retirement medical funds and the Affordable Housing Levy, reducing the burden of double taxation. The Bill also raises the mortgage interest deduction limit from Sh300,000 to Sh360,000 to encourage homeownership, and introduces an economic presence tax for non-residents and a minimum top-up tax for multinational companies to ensure they contribute fairly to Kenya’s economy.
2. The Tax Procedures (Amendment) Bill, 2024
This Bill seeks to amend the Tax Procedures Act, Cap. 469B, to clarify the format and requirements for Electronic Tax Invoices. It simplifies compliance for small businesses and offers incentives for the construction industry. The Bill mandates that electronic invoices contain essential information, such as the designation “TAX INVOICE,” the supplier’s details, and the serial number, among other specifics.
3. Business Laws (Amendment) Bill, 2024
This Bill amends several Acts to improve financial stability, protect depositors, and promote integrity in the financial services sector. It also facilitates ease of doing business by amending the Kenya Accreditation Service Act to mandate the accreditation of conformity assessment institutions and updates the Special Economic Zones Act to allow for investment regulations and a one-stop shop for enterprise applications.
4. Statutory Instruments (Amendment) Bill, 2023
This Bill seeks to amend the Statutory Instruments Act, Cap. 2A, requiring Cabinet Secretaries who fail to submit statutory instruments to Parliament to publish a notice declaring them null and void. It also grants Parliament the discretion to publicize such nullities and increases the fine for non-compliance from Sh20,000 to Sh1 million.
5. Ethics and Anti-Corruption Commission (Amendment) Bill, 2024
This Bill aligns with recommendations from the National Dialogue Committee on governance, particularly on the qualifications for the chairperson of the Ethics and Anti-Corruption Commission. It mandates that the chairperson be qualified to hold the office of a High Court judge, ensuring strong leadership and strategic direction for the commission.
6. Kenya Roads Board (Amendment) Bill, 2024
This Bill reduces the membership of the Kenya Roads Board from eight to five members and adjusts the terminology to align with the Constitution by replacing “Minister” with “Cabinet Secretary.”
7. Kenya Revenue Authority (Amendment) Bill, 2024
The Bill authorizes the Commissioner-General of KRA to appoint deputy commissioners, subject to Board approval. It also grants the Treasury Cabinet Secretary the power to waive penalties for appointed agents who fail to transfer collected funds inadvertently and strengthens KRA’s collaboration with educational institutions to improve tax administration and revenue collection.
Dj Vnyash
