Kenyan Students in France Rally Against Finance Bill 2024

The Kenyan Students Association in France (KSAF) has taken a firm stance against the proposed Finance Bill 2024, voicing significant concerns about its potential ramifications for Kenyan citizens.

As young advocates for change, KSAF contends that the oppressive taxes outlined in the bill will further compound the challenges faced by Kenyans. Kenya's economy has shown resilience, achieving a growth rate of 5.6% in the first three quarters of 2023, outpacing both global and regional averages. However, the introduction of the Finance Bill 2024 has sparked considerable controversy, prompting KSAF and other concerned citizens to express their opposition.

At the heart of the debate are the bill's proposed changes to the tax framework. One contentious issue is the introduction of a motor vehicle tax, set at 2.5% of the vehicle's value, with a minimum of Sh5,000 and a maximum of Sh 100,000. Additionally, the bill proposes extending the timeframe for the Kenya Revenue Authority to issue decisions from 60 to 90 days. Critics argue that these measures could significantly impact citizens' purchasing power and cost of living, especially for those already grappling with unemployment and limited opportunities.

The bill also suggests implementing international tax reforms including a minimum top-up tax of 15% for certain multinational entities. While this aims to boost domestic revenue, some argue that it may disproportionately affect ordinary Kenyans. In response to these concerns, KSAF has issued a press statement expressing solidarity with their fellow Kenyans and announcing plans for a peaceful protest in Paris on June 25, 2024. Their message is unequivocal: Kenyans deserve a brighter future, with economic policies that prioritize the well-being of all citizens.

KSAF is calling upon President William Ruto and all Members of Parliament to heed the collective voice of Kenyans. The association argues that rejecting the Finance Bill 2024 represents a broader call for economic justice, transparency, and a commitment to building a nation where every citizen can thrive.