Finance Act 2023

2024 - 10 - 30

Why is Everyone Raging Over the Supreme Court’s Finance Act Decision?

Digital Asset Tax - Finance Act 2023 - Housing Levy - Kenya Revenue Authority - Law Society of Kenya - Supreme Court Kenya

Is it just me, or did the Supreme Court just ignite a fiscal firestorm in Kenya?! Here’s the juice on why all eyes are on the Finance Act 2023.

The Supreme Court of Kenya has recently thrown a curveball, upholding the controversial Finance Act of 2023, which has stirred a cacophony of criticism from various quarters, especially the Law Society of Kenya (LSK). Former LSK President Nelson Havi led the charge, accusing the country's apex court of missing a golden opportunity to protect the interests of Kenyan citizens. Previously, the Court of Appeal had ruled against the Finance Act due to public uproar over proposed tax increases, leaving room for hope among dissenters. Now, however, the Supreme Court's decision could be seen as a vindication for President William Ruto's administration, which had been banking on this law to facilitate tax collection after withdrawing the initial finance bill earlier this year under public pressure.

In a dramatic twist of events, LSK President Faith Odhiambo has come forward to voice her frustrations about the Supreme Court ruling, suggesting that it discredits the power of the judiciary and diminishes public trust in legal institutions. The ruling has unveiled deep divisions among Kenyans, with many already voicing their displeasure about rising living costs precipitated by the Housing Levy included in the Finance Act. The debate isn’t just about tax increases; it cuts to the core of governance, accountability, and what citizens can expect in terms of fiscal responsibility from their leaders.

As protests erupt through social media and in the streets, one can’t help but wonder if the courts can truly interpret the will of the people. With inflation affecting every aspect of daily life, critics argue that this Supreme Court decision may indeed backfire. Public outcry continues to grow, with many claiming that the finance law exacerbates the economic burden on ordinary Kenyans. While the government views this as a necessary step for economic stability, the opposition, led by LSK, is working tirelessly to generate public engagement and mobilization against the law, showcasing the remarkable resilience of the Kenyan spirit.

As the dust settles, one must ponder what lies ahead for the citizens of Kenya, and whether their voices will stir action in a politically charged environment. Interesting to note, the Finance Act 2023 also encompasses provisions aimed at enhancing the country’s digital marketplace through taxation, suggesting a push towards modernization, albeit amid a backdrop of dissatisfaction. Furthermore, the act represents a crucial point for the government, whose success depends significantly on public perception. In the end, whether this results in a stronger financial base for the nation or a rallying point for future protests remains to be seen!

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Image courtesy of "The Standard"

Havi criticises Supreme Court's decision upholding Finance Act 2023 (The Standard)

Former Law Society of Kenya (LSK) President Nelson Havi has hit out at the Supreme Court over its decision to overturn a Court of Appeal ruling that ...

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Image courtesy of "Kenyans.co.ke"

LSK President Faith Odhiambo Faults Supreme Court Ruling on ... (Kenyans.co.ke)

The reactions came after the courts okayed the Finance Act and the Housing Levy.

Kenya: Law Society Protests Against Supreme Court's Finance Act ... (AllAfrica.com)

The Law Society of Kenya (LSK) has expressed dissatisfaction with the Supreme Court's ruling overturning the decision by the Court of Appeal to quash the ...

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Image courtesy of "Voice of Nigeria"

Kenyan supreme court reinstates 2023 finance law (Voice of Nigeria)

The government had been relying on the 2023 law to continue tax collection after withdrawing this year's finance bill due to widespread protests. The Supreme ...

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Image courtesy of "News Central TV"

Kenya's Supreme Court Reinstates 2023 Finance Law (News Central TV)

Kenya's Supreme Court has reversed an appeal court ruling on Tuesday that had invalidated the 2023 finance law, marking a win for William Ruto's government.

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Image courtesy of "JURIST"

Kenya Supreme Court overturns decision declaring Finance Act ... (JURIST)

The Supreme Court of Kenya reversed the Court of Appeal ruling on Tuesday that declared the Finance Act 2023 unconstitutional. President Ruto signed the ...

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Image courtesy of "Mariblock"

Kenya's Supreme Court upholds finance act, digital assets tax (Mariblock)

Meanwhile, the KRA said it is working on a system to ensure real-time compliance with the tax regime. Kenya's apex court upholds 3% Digital Asset Tax ...

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Image courtesy of "Africa.com"

Kenya's Supreme Court Upholds Controversial 2023 Finance Law ... (Africa.com)

The 2023 law, pivotal to government revenue, introduced higher taxes on fuel, a new housing levy, and increased top personal income tax rates—measures that led ...

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