In our opinion in the June Issue No. 89, we assessed and commented on the then highly debated Finance Bill 2023, which President Ruto has incessantly been forcing on Kenyans, as substantially unconstitutional and anti-devolution. Although having been assented into law on 26th June 2023, the implementation of the Finance Act, 2023 has now been […]
Kenya’s debt has remained sustainable, but with elevated risks of debt distress due to persistent global shocks that adversely affect the liquidity ratios. The depreciation of Kenya shilling against major currencies and the rise of interest rates have elevated the cost of debt service. Further, the depreciation of the currency has increased the size of […]
The Kenyan legislature is one of the three arms of government which are constitutionally established by the 2010 Constitution.[1] Each of these three arms of government has its functions and obligations which spawn from the separation of powers theory by Madison.[2] The Kenyan legislature is tasked with the role of making and amending laws as […]
The infamous housing levy that President William Ruto is forcing on Kenyans has elicited considerable debate in the country. While many Kenyans rightly worry about the economics and fairness of the programme, few have raised questions about the constitutionality of the levy. One of the biggest casualties of this forced housing contribution is county governments. […]
As we crawl towards the final leg of the fiscal year 2022/2023, the National Treasury tabled the Finance Bill, 2023 (the Bill) before the National Assembly on Thursday, 4 May 2023. The Bill proposes a raft of tax changes that are geared towards expanding the tax base and raising revenues to meet the government’s ambitious […]
From a development perspective, taxes are not only a source of revenue; a more comprehensive analytical framework considers four main purposes of taxation. The first purpose, revenue generation, is also an instrument of macroeconomic policy. A second purpose is redistribution, through progressive taxation and limiting tax incidence on people with lower ability to pay. Redistribution […]
