Tussle: MPs okay slashing of funds to countiesFrom left: Finance Committee ChairJoseph Limo, Budget Committee Chair Kimani Ichung’wa, Treasury CS Henry Rotich and Speaker Justin Muturi at Parliament. CRA had recommended the slashing of National Government’s share of revenues by Sh40 billion to Sh1.52 trillion - from Sh1.56 trillion proposed by Treasury. In what is an indicator of the things to come, Treasury proposed to overhaul the income tax, leaving employers and employees open to increased taxation. They will be financed through net external financing of Sh306.5 billion, Sh271.4 billion net domestic borrowing and other net domestic receipts of Sh5.7 billion. The team was concerned with reports of misappropriation of funds by counties calling for enhanced oversight role by the National Assembly.

Source: Standard Digital March 25, 2019 21:06 UTC