Treasury issues timelines for preparation of the next Finance Bill
The National Treasury has released timelines for the preparation of the Finance Bill 2025 and the 2025/2026 budget
The National Treasury has released timelines for the preparation of the Finance Bill 2025 and the 2025/2026 budget.
As detailed in the Draft 2024 Budget Review and Outlook Paper report by Treasury CS John Mbadi, the Finance Bill 2025 will be ready by April 2025.
It was noted that the Bill will be presented to the Cabinet before April 18, 2025, for approval.
Mbadi added that the document will then be submitted to the National Assembly by April 29, 2025.
“Presentation of the Budget Statement/Speech to Parliament is scheduled for June 12, 2025, and approval and assent of both the Appropriation Bill, 2025 and Finance Bill, 2025 by June 30, 2025,” read the report in part.
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The Finance Bill is a document which details various tax measures that the government seeks to implement in a financial year to raise revenue.
Notably, the 2024/2025 financial year is being run without a Finance Bill owing to the withdrawal of the contentious bill that led to nationwide protests in June.
Some of the tax measures that were proposed in the Bill include the Motor Vehicle Circulation Tax and the Eco Levy among others.
The government has occasionally blamed the withdrawal of the Finance Bill 2024 on misconceptions and poor public participation.
According to the initial plan, the government was to collect over Ksh300 billion through the implementation of the withdrawn bill.
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