Latest news with #financeLaw
Reuters
12 hours ago
- Business
- Reuters
Kenya parliament passes proposed 2025 finance law
NAIROBI, June 19 (Reuters) - Kenya's parliament on Thursday voted to approve this year's proposed finance law, denying the revenue authority's request to get unrestricted access to taxpayers' data on account of privacy concerns and constitutional safeguards. The government is under pressure to avoid a repeat of last year's unrest after protests against proposed tax hikes led to over 60 deaths and forced President William Ruto to abandon plans to raise 346 billion shillings in taxes. Lawmakers voted by acclamation to approve this year's law, clearing the way for President Ruto to sign and approve it. Kenya's parliamentary finance committee rejected on Monday a proposal that would have granted the Kenya Revenue Authority (KRA) the access to the data. The provision included in this year's finance bill had drawn a public backlash over alleged privacy violations. The committee said existing laws allowed KRA to access financial data with a court warrant, rendering the proposal unnecessary. Finance Minister John Mbadi last week presented to parliament a 4.29 trillion-shilling ($33 billion) budget for the 2025/26 (July-June) fiscal year. This year's finance law aims to raise an extra 30 billion shillings ($233 million), mainly through boosting tax compliance. ($1 = 129.0000 Kenyan shillings)
Zawya
4 days ago
- Business
- Zawya
Tunisia: President Saïed, Finance law not mere figures but financial implementation of people's choices
Tunis - President of the Republic Kais Saïed laid emphasis on the main lines of the draft finance law for next year as he met Thursday in Carthage with Prime Minister Sarra Zaafrani Zenzri, Finance Minister Mechket Slama Khaldi and Minister of Economy and Planning Samir Abdelhafidh. The Head of State renewed the call for identifying new solutions in all fields, notably in the social arena, and breaking away with past orientations. "The finance law is not mere figures and rates but the financial implementation of the people's choices," the President was cited as saying in a Presidency press release. The President also instructed to take into account the outcome of the meetings held with members of local, regional and district councils even before drafting the relevant summary report and producing draft regional, district and national development plans. "The revolution cannot be brought to fruition solely through legislation and those tasked with its enforcement. It is rather a revolution of minds," Kais Saïed highlighted. Likewise, the legislative revolution needs to go hand in hand with an administrative revolution, the Head of State said, which fosters a new vision that helps open up new horizons for those who have long suffered from injustice and poverty. © Tap 2022 Provided by SyndiGate Media Inc. (
