Kikuyu MP Kimani Ichung'wah has dismissed the assertion that the Finance Bill 2023 is aimed at burdening Kenyans.
The bill is currently before the National Assembly for deliberations.
Speaking at an event in Limuru Girls High School on Saturday, Ichung'wah clarified that the proposals in the bill is aimed at salvaging the lowly Kenyans at the bottom of the pyramid.
The lawmaker who doubles up as the majority leader in the August House said Kenyans earning monthly salary of KSh 500,000 and upward are the ones being targeted.
He observed that the PAYE for these top earners would be increased by 5% to 35% so that the proceeds can be channelled toward creation of jobs.
"We talked about the bottom-up economic model when we were campaigning. Having read the finance bill, I want to confirm that it is addressing the issues we spoke about," he said.
Ichung'wah said that the new taxation proposed therein is in good faith and espouses the principle of fairness.
He said a majority of Kenyans are struggling and thus should be cushioned by those earning big.
The increment is for people earning half a million and above. We are ready to pay that incremental tax to help those at the bottom to get jobs," he said.
The bill seeks to amend the laws touching on various taxes and duties.
The opposition had expressed its reservation on it citing introduction of new tax regime that would burden Kenyans even as they grapple with the preexisting exorbitant taxation.
It now awaits the approval of parliament; opposition chief Raila Odinga said legislators on his side have been instructed to shoot the bill down.
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