The decision by the Court of Appeal to void the Finance Act 2023 has left the government with a Sh510 billion hole in its budget for the current fiscal year while also exposing the true level of the Kenya Kwanza administration tax increments that sparked widespread protests.
The National Treasury yesterday filed a notice of appeal at the Supreme Court against Wednesday’s Appellate court decision, saying it stands to lose Sh164 billion in revenue if the provisions of the Finance Act 2023 are removed from the country’s tax laws.
