NAIROBI, Kenya, Jun 23 — President William Ruto has signed the Finance Bill 2026 into law at State House, Nairobi, setting the stage for implementation of the Sh4.82 trillion national budget for the 2026/2027 financial year.

📻 Breaking It Down

The President said the Finance Act 2026 is designed to enhance tax fairness by sealing loopholes and strengthening compliance within the tax system, rather than introducing new broad-based tax burdens.

“The signing of the Act consolidates our efforts to strengthen revenue mobilisation and ensure efficiency in tax administration,” he said.

The assent follows the National Assembly’s approval of the Bill during a heated Third Reading on June 18, 2026, where 122 MPs voted in support and forty opposed it. Some 186 MPs, including Kiharu MP Ndindi Nyoro, a vocal critic of the law, were absent.

📌 What You Need to Know

President Ruto thanked lawmakers for supporting the reforms despite political pressure, and noted that public participation had been enhanced through digital platforms that allowed citizens to submit views during the legislative process.

“We have enhanced resources to make sure that we cover every aspect of the commitments we have made to the people of Kenya,” Ruto said.

He dismissed public concern over potential tax hikes as misinformation, insisting that no proposals targeting land or other key assets were included in the final law.

“Contrary to propaganda, misinformation, disinformation, and fake news, the government did not propose any taxes that were largely alleged,” he said.

“Specifically, there was no proposal to introduce taxes on freehold land or any land for that matter.”

The President further said the approved fiscal framework is intended to support key sectors of the economy, including agriculture and manufacturing, and to ensure continuity of government programmes under the Bottom-Up Economic Transformation Agenda.

📰 Source: Capital FM Kenya