Uhuru finally signs Finance Bill 2018 into law

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President Uhuru Kenyatta has signed the Finance Bill 2018 into law

President Kenyatta has signed into law the Finance Bill 2018, which was passed in a chaotic debate on Thursday, September 20.

In a Twitter post on Friday, Mr Kenyatta vowed to ensure proper use of public funds after signing the bill into law.
“I give my commitment that I will ensure proper utilisation of public resources for a better Kenya. I will not relent on the war against Corruption,” Mr. Kenyatta said.

The bill was approved by Parliament after a chaotic parliamentary session marked by shouting down and claims of rigging by a cross section of legislators who were pushing for zero tax on fuel.

The bill is set to see levy on petroleum products raise by 8 percent, mobile phone transaction excise duty shoot up from 10 percent to 20 percent and excise duty on bank transactions increase from 12 percent to 20 percent.

Cost of internet data services will also go up by a whopping 15 percent among other expected biting changes.

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