By TCD DIGITAL.
President William Ruto has refused to sign the Finance Bill, 2024, returning it to Parliament with proposed amendments. Parliament must now decide whether to amend the bill according to his suggestions or pass it again without changes, requiring a two-thirds majority.
The Finance Bill includes tax proposals such as a 16% VAT on bread and excise duties on vegetable oil and sugar transportation. With Parliament set to recess today, the Speaker may need to recall MPs if the bill is returned.
More as we get it.
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