President William Ruto has rejected to sign the 2024 Finance Bill.
The Bill will be returned to Parliament before they adjourn today, State House sources told the Star.
The Members of Parliament will need to take into account a number of revisions to the Bill that the Head of State has suggested.
Parliament has the option to pass the Bill again without changes or modify it in light of the president’s concerns.
The president will highlight important provisions that require revisions when he returns the finance bill.
The speaker will then resubmit the bill to the president for approval if the MPs adequately address the President’s concerns.
The House may repass the bill without revisions or with amendments that do not entirely address the president’s concerns if it takes his reservations into consideration.
Two-thirds of the members, however, had to have agreed with this.
With MPs scheduled to leave on recess from today until July 23, if the President returns the document to Parliament, the speaker may have to recall them.
A few of the tax proposals that were previously included in the bill are the following: a 16 percent VAT on bread, an excise duty on vegetable oil, a 2 percent motor vehicle tax, an eco levy on items manufactured locally, and a VAT on the transportation of sugar.
They were later dropped.
Following these changes, the bill was approved by the house committee.
The committee of the whole house model provides for a comprehensive analysis of each provision before the measure moves on to the next phases of legislative review.
