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Kenya and Portugal sign avoidance of double taxation agreement

 

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Signing ceremony in Lisbon between Kenya 🇰🇪 and Portugal 🇵🇹 for avoidance of double taxation done Tuesday 10th, 2018.

 

Signing was done at the Ministry of Foreign Affairs of Portugal in Lisbon. It was signed by Cabinet Secretary, National Treasury &Planning Henry Rotich and António Mendonça Mendes, Secretary of State of Tax Affairs, Portugal and witnessed by Teresa Almeida, Secretary of State of Foreign Affairs and Cooperation, Portugal.

 

Avoidance of double taxation will create a conducive environment for investments and trade in goods and services between the countries by removing uncertainties on taxation occasioned by having two different jurisdictions at play.

 

The Draft Public Finance Management (Climate Change Fund) Regulations, 2018

 

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The Climate Change Fund (CCF) establishment is provided for under Section 25 of the Climate Change Act, 2016 as a financing mechanism for the priority climate change actions and interventions.

 

The National Treasury has finalized preparing the draft Public Finance Management (Climate Change Fund) Regulations, 2018 which have been posted to the National Treasury website www.treasury.go.ke.

 

US Companies to collaborate with Government in implementation of Big 4 Agenda

 

Nairobi, June 29, 2018

 

 

Treasury CS Henry Rotich sign an MOU with US Undersecretary for Commerce Mr Gilbert Kaplan at Treasury Building today where US companies will collaborate with the Government of Kenya in implementation of the big 4 Agenda of Jubilee government.

 

Some of the already identified projects are the 500,000 affordable housing units to be put up in the next four years, the leasing of health equipment and the road from Mombasa to Nairobi.

 

Mr Kaplan is leading a big delegation from the United States of America comprising of the US President's Advisory Council for doing business in Africa, US Private Sector players and the US government officials.

 

Present to witness the signing was the US Ambassador to Kenya Mr Robert Codec.

 

Kenya Government and United Nations Launch United Nation Development Assistance Framework (UNDAF) 2018 -2022

 

Nairobi, June 26, 2018

 

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From Left to Right: Cabinet Secretary Devolution and Arid and Semi Arid Lands (ASAL),  Eugene Wamalwa,   Cabinet Secretary  National Treasury and Planning , Henry Rotich  and United Nations Resident Coordinator /UNDP RR, Mr Siddharth Chatterjee officially sign United Nations Development Assistance Framework for Kenya (UNDAF) 2018 - 2022  today, June 26, 2018 at Panafric Hotel in Nairobi.

 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

 

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Public-Private Partnership (PPP) Disclosure Web Portal Launch

 

Nairobi, June 19, 2018

 

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The National Treasury and Planning Cabinet Secretary, Henry Rotich (Right) greets other participating officials after cutting a ribbon to officially launch the Public-Private Partnership (PPP) Projects Disclosure Web Portal Launch today, June 19, 2018 at Intercontinental hotel in Nairobi. The National Treasury, through the PPP Unit, is responsible for the overall coordination, promotion, and oversight of the implementation of the PPP program in the country, according to Kenya PPP program status report June 2018, which states that there are 72 PPP Projects in the pipeline.

 

CS Henry Rotich addresses the Press after presenting the 2018 – 2019 Budget Estimates

 

Nairobi, June 15, 2018

 

 

National Treasury and Planning Cabinet Secretary, Henry Rotich flanked by among other, Chief Administrative Secretary, Nelson R. Gaichuhie (2nd Left), Principal Secretary, Dr Kamua Thugge, National Treasury (2nd right) and Principal Secretary, Planning, Dr. Julius Muia, addresses the Press on Thursday, June 14, 2018 after presenting the 2018 – 2019 Budget Estimates of about 3 trillion at the National Assembly in Nairobi. The East frican Community member states: Tanzania, Uganda and the others, also presented their budget estimates for 2018 - 2019. 

 

CS Henry Rotich Reads 2018 – 2019 Budget Estimates

 

Nairobi, June 14, 2018

 

 

 

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich arrives and welcomed by Senior Deputy Clerk, National Assembly, Michael Sialai at the the National Assembly before he presents his  2018 – 2019 Budget Estimates of Sh 2,550.5 billion today, June 14, 2018. 

 

Budget Statement 2018-19

 

Download the Highlights of the Budget Statement 2018-19

 

Download the Budget Statement 2018-19

 

Ministries, State Departments and Agencies (MDAs) have been urged to assign experienced and competent officers who are able to spearhead budget making process in a bid to ensure that the government policies and programmes are well captured and funded accordingly.
National Treasury Principal Secretary Dr. Kamau Thugge said such officers include MDAs’ heads of budget, accounting, finance, planning, and human resource management and development.


“Formulation of Ministerial Budget Proposals should be done at the Ministerial level but not in sector working groups (SGWs) retreats and meetings. This will cut down cost and the number of officers who should not exceed five during the final stages of the budget proposals before being presented to Parliament for approval,” said Dr. Thugge.
The Principal Secretary was speaking at Kenyatta International Convention Center (KICC), Nairobi, during the launch of the Sector Working Groups for the preparation of the 2016/17 – 2018/19 medium term budget.
The launch of the SGWs which runs for the next 10 months, he said, marks the official start of the budget making process for the medium-term budget.
Dr. Thugge challenged SGWs to analyse critically past budgets performance before embarking on the preparation of the medium-term budget in order to come out with realistic, manageable and workable budget proposals.
 “In the past, most public sector entities have paid leap service to budget making process. Thus Sector Chairpersons, Convenors and Co-Convenors should ensure that public entities prepare and submit timely their performance review reports in cognizance of the limited resource allocation in the Budget Envelope,” Dr. Thugge noted.
He also said the 2016/17 budget is being prepared against a backdrop of several challenges among them domestic and global shocks which demands that all sectors identify and priotize accurately the key national projects for funding.
He observed that experience from the past budget preparation shows that there is need to build capacity for the budget SGWs personnel so that they could perform their duties effectively to the satisfaction of the government.
On implementation of financial year 2015/16 budget, Dr. Thugge acknowledged that the National Treasury has received several requests for additional funding for payment of pending bills and unpaid G-Pays for the last financial year which he noted poses a great challenge to the government in view of the scarce resources at its disposal.
He then advised public sector entities to manage their resources prudently and as guided by ceilings contained in the Treasury Circular No. 8/2015, adding that uncompleted projects should be prioritized in the next budget.
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