Finance Bill 2025 will support entreprise and productivity in Kenya, President William Ruto has assured.
In his Labour Day speech, the Head of State said the Bill, approved by Cabinet on Tuesday, seeks to “stimulate economic growth, deliver efficiency, enhance competitiveness, and expand opportunity.”
“In fact, its provisions are designed to offer targeted relief to both businesses and workers, and to support the spirit of enterprise and productivity,” Ruto told Kenyans.
The President also announced plans to improve workers after tax pay by enabling employers to apply eligible tax reliefs and exemptions directly when calculating the Pay As You Earn (PAYE).
This will be a change from the current system, where the tax reliefs can only be claimed from the Kenya Revenue Authority after filing tax returns.
“This will increase efficiency and immediately benefit employees,” noted the President.
During the fete, the President also announced that Kenya will ratify two conventions of the International Labour Organisation (ILO) to realise protection of all workers.
The Head of State declared that ILO Convention 189 of 2011 and 190 of 2019 will be ratified by next year.
The ILO Convention 189 seeks to safeguard the dignity and rights of domestic workers, while convention 190 seeks to eliminate violence and harassment in the world of work.
Here, Ruto also drummed up support for the affordable housing project, health insurance and pension deductions which have recently minimized the take-home pay of Kenyan workers.
Ruto urged Kenyans to look at the long term benefit of the salary deductions.
