Kenya: Finance Act 2023

Kenya: Finance Act 2023

Kenya’s High Court on Friday, 30th June, temporarily suspended the implementation of the Finance Act 2023. Lady Justice Mugure Thande noted in ruling that an application by Busia Senator Okia Omtatah met the threshold for conservatory orders.

“I am satisfied that the application meets the test of conservatory orders and I do grant prayers 2 and 3 of the application until 5 July 2023 when the matter is scheduled for direction,” said Thande.
 
The Act introduces two new tax bands; for all incomes up to KShs. 6 million at 32.5% and incomes above KShs. 9.6 million at 35% as the Government seeks to boost the tax revenues. The most controversial tax measure in the Act remains the 1.5% housing tax on the gross pay of all employed Kenyans.

Justice Thande said they would be given further direction on the matter when the case is mentioned on Wednesday, 5th July.




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