MPs approve Finance Bill 2023

Parliament in session. [Elvis Ogina, Standard]

Members of Parliament on Wednesday, June 21 approved the proposed Finance Bill, 2023.

The Bill that was passed after a third reading by the National Assembly will now be sent to President William Ruto for assention before it becomes a law.

The MPs approved over 70 amendments to the Bill last evening.

Among the key contentious issues in the Bill include the housing levy which was amended to 1.5 per cent of gross pay from the initial 3 per cent.

The legislators also voted to pass additional tax on fuel from 8 per cent to 16 per cent, with one hundred and eighty-four MPs voting in favor and 88 opposing.