Parliament passes Economic Bills
Parliament has passed four bills aimed at shaping the country’s financial and economic landscape.
They include Bill No. 13 of 2025: Appropriation which allows government to use a budget of K8.08 trillion to fund essential goods and services for the upcoming financial year, spanning from 1st April 2025 to 31st March 2026.
Another Supplementary Appropriation Bill No. 14 of 2025 allows government to spend an additional K500.66 Billion to fund goods and services for the current financial year ending March 31, 2025.
The Value Added Tax (Amendment): Bill No. 12 of 2025, was also passed, which seeks to amend the Value Added Tax Act to exempt bread from value-added tax.
This amendment aims to provide relief to consumers and make basic necessities more affordable.
Lastly, Bill No. 11 of 2025: Taxation (Amendment) was also passed, which aims to amend the Taxation Act to standardize the tax rate for all corporations
The passage of the four bills follows parliament’s approval of the 2025/2026 National Budget on Wednesday
