Vihiga: Residents of Vihiga have actively participated in a forum to submit their views on the Finance Bill 2026. The event was led by members of the National Assembly Departmental Committee on Finance and National Planning, including Kitui Rural MP David Mwalika and Butula MP Joseph Oyula, alongside Deputy County Commissioner Linet Orina. The leaders guided the public through the proposed legislation and sought feedback on key provisions in the Finance Bill and related legislative proposals, including the Sovereign Wealth Fund Bill, the Central Bank of Kenya (Amendment) Bill, and the Kenya Revenue Authority (Amendment) Bill.
According to Kenya News Agency, the Sovereign Wealth Fund Bill aims to establish a national fund for promoting long-term fiscal sustainability and intergenerational wealth sharing through revenues from mining royalties, petroleum profits, and other approved sources. The proposed fund will include a stabilization fund to cushion the economy against shocks, a strategic infrastructure investment fund for development projects, and a future generations fund to preserve wealth from non-renewable resources.
The committee further explained that the Central Bank of Kenya (Amendment) Bill aims to strengthen the legal framework for liquidity support to financial institutions and enhance parliamentary oversight in the appointment of deputy governors. Meanwhile, the Kenya Revenue Authority (Amendment) Bill proposes to align revenue administration laws by updating outdated legal references.
During the forum, residents expressed concerns about the potential impact of proposed tax measures on the cost of living, particularly the introduction of Value Added Tax (VAT) on digital financial services. Participants questioned whether the proposed changes would increase transaction costs for mobile money services like M-Pesa and sought clarification on the exemption of certain goods, such as motorcycles, from the standard 16 percent VAT.
They also inquired about proposed excise duty changes affecting mobile services and the potential cost implications for consumers acquiring new mobile devices. The legislators clarified that provisions related to digital financial services target large service providers and aim to protect consumers from increased transaction charges. Regarding mobile device taxation, the committee noted that the proposed consolidation of several import-related taxes into a single duty structure is intended to simplify taxation and improve affordability.
The committee assured residents that all views collected during the public participation exercise would be considered before the bills are tabled for debate in Parliament. Public participation on the proposed legislation is ongoing in other counties as Parliament continues to gather public input on the measures.
