All eyes on Uhuru as Speaker Muturi forwards Finance Bill 2018
- President Kenyatta faces a dilemma whether to assuage the desires of IMF or bow to pressure from the taxpayers.
- He will either sign the Bill and have the fuel tax suspended for two more years or send it back to parliament, together with a memorandum of his reservations, for reconsideration.
National Assembly Speaker Justin Muturi has delivered the controversial Finance Bill 2018 to President Uhuru Kenyatta for consideration.
State House spokesperson Kanze Dena confirmed that the Bill, which seeks to further suspend the 16% Value Added Tax (V.A.T) on petroleum products, was forwarded to the President on Thursday, September 13.
“The Speaker of the National Assembly has today the September 13th, delivered the vellum on the financial bill (National Assembly Bill no.20 of 2018) for consideration by the President,” said Kanze Dena in a statement to newsrooms.
Pressure has been mounting on President Kenyatta to assent to the Bill which will prevent an escalation in fuel prices as well as the cost of living.
The new tax on petroleum products came into effect on September 1 with the Energy Regulatory Commission (ERC) releasing new fuel prices reflecting the 16 percent VAT.
Consumers continue to bare the brunt of the fuel tax despite a court order temporarily barring its enforcement and the pending decision by the president.
The International Monetary Fund (IMF) has been pushing the government to end the suspension of the fuel levy that was announced two years ago, and raise its revenues as budget deficits and debt continue to spiral.
All eyes are now on President Kenyatta who faces a dilemma whether to assuage the desires of IMF or bow to pressure from the taxpayers.
President Kenyatta will either sign the Bill and have the fuel tax suspended for two more years or send it back to parliament, together with a memorandum of his reservations, for reconsideration.
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