President Ruto Fails to Sign Controversial Finance Bill 2024

President William Ruto has declined to sign the controversial Finance Bill 2024.

The Head of State has also proposed a raft of amendments to the Bill which the MPs will have to consider.

State House sources said that the Bill will be sent back to Parliament before they break for recess today, Wednesday,June 26th, 2024.

Parliament may amend the Bill in light of the president’s reservations or pass it a second time without amending it.

In returning the bill, the president will point out key areas that need to be altered.

If the MPs amend the bill fully accommodating the President’s reservations, the speaker shall then resubmit it to the president for assent.

If the House considers the president’s reservations, it may pass it a second time, without amendment, or with amendments that do not fully accommodate his reservations.

This must have, however, been supported by two-thirds of the members.

With the MPs set to go on recess beginning today until July 23, it means that should the President return the document to Parliament the speaker may have to recall them.

Some of the tax proposals which had earlier been introduced in the bill include 16 per cent VAT on bread, Excise duty on vegetable oil, VAT on transportation of sugar, 2.5 per cent Motor Vehicle Tax and Eco Levy on locally manufactured products.