When the Court of Appeal declared the Finance Act 2023 unconstitutional, it ignited a wave of jubilation across the nation. On Thursday, the National Treasury filed a notice of appeal with the Supreme Court, challenging the Court of Appeal’s decision. The Treasury argues that overturning the Finance Act 2023 threatens to slash Ksh164 billion from its anticipated revenue—a critical blow to an already strained fiscal framework. The potential for widespread legal challenges and operational paralysis threatens to undermine the very stability that the Finance Act 2023 was designed to protect. The reversal of the Finance Act 2023 means the reintroduction of higher taxes on essentials like mobile data, airtime, and rentals.
