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Nairobi, 5th November, 2019

 

Article 201 of the Constitution spells out the Principles of Public Finance among them, openness and accountability, including public participation in financial matters. In the preparation of the National Fiscal Budget for the Financial Year 2020/2021, and in accordance with the requirements of the Constitution.

 

 

 

The amendment of the Public Finance Management Act through the Statute Law (Miscellaneous Amendments) Act, 2019 dated 9th July, 2019, requires that the revenue raising measures contained in the Finance Bill be submitted to Parliament by 30th of April each year as opposed to June during the budget-statement usually in mid-June. It is therefore imperative that we begin the process of preparing the Finance Bill, 2020 early enough in order to meet the new timelines. In this regard, the preparation of the Finance Bill, 2020 will commence in November, 2019 with the following timelines:

 

Timeline

Activity

30th November, 2019

Deadline for submission of budget proposals by stakeholders to the National Treasury.

1st to 31st December, 2019

Review of all the submitted budget proposals.

2nd to 31st January, 2020

Meetings and engagement with stakeholders.

1st to 28th February, 2020

Consolidation of the budget proposals and drafting of the Finance Bill, 2020.

1st to 15th March, 2020

Legal drafting of the Finance Bill, 2020 and relevant legal notices

By 27th April, 2020

Submission of the Finance Bill, 2020 to Parliament

 

In view of the above, the National Treasury hereby invites the public and private sector institutions as well as individuals to submit proposals on economic policy measures including taxation proposals, not later than 30th November, 2019, for consideration by the Cabinet Secretary for the National Treasury and Planning during the Budget process. The proposals should be forwarded in writing to the undersigned or through the email [This email address is being protected from spambots. You need JavaScript enabled to view it.].

 

The proposals should be aimed at fostering economic growth and development, strengthening our fiscal framework, especially in support of the “Big Four” Agenda being implemented by the Government. In addition, the proposals may include measures on regulatory reforms, revenue administration reforms, and any other measure that may enhance macroeconomic stability.

 

The submissions should be specific on the proposed amendment to the law, supported by a statement on the issue to be addressed and a clear justification for the proposed amendment.

 

HON. (AMB.) UKUR YATANI

Ag. CABINET SECRETARY/ THE NATIONAL TREASURY & PLANNING