The Finance Bill, 2020 on 6 May 2020 was tabled in the National Assembly for its consideration—a departure from previous years when Finance Bills were introduced to the National Assembly after the reading of the national budget in June.
The change this year was necessitated by recent court interpretations of constitutional issues that effectively barred the government from collecting taxes before the relevant tax provisions are approved by the National Assembly. This process will give the National Assembly time to approve the Finance Bill in time for implementation of the tax measures when the government calendar starts on 1 July, thereby effectively allowing the government to match revenue collection and expenditure for the year.
The publication of the Finance Bill comes almost 10 days after the president assented to the Tax Laws (Amendment) Act, 2020—legislation that introduced far-reaching changes to the tax law.
The Finance Bill builds on these changes with the proposed introduction of:
Read a May 2020 report [PDF 782 KB] prepared by the KPMG member firm in Kenya
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