Treasury Cabinet Secretary Ukur Yatani will read the Sh3.31 trillion budget for the financial year starting July two months earlier than traditional time.
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Sh2.97trn budget plan signals higher taxation
Tuesday January 26 2021
Treasury Secretary Ukur Yatani when he arrived at Parliament Buildings on June 11, 2020 to table the Budget. FILE PHOTO | NMG
By PATRICK ALUSHULA
From July, Treasury targets raising an additional Sh194 billion from ordinary revenue.
The higher budget target, coupled with cuts in borrowing, is expected to put pressure on the KRA to improve its collection performance in the face of tough economic times.
The budget proposes Sh1.922 trillion for the Executive, being 65.3 percent of total budget while Parliament and the Judiciary will get Sh37.88 billion and Sh17.92 billion respectively.
Treasury Cabinet Secretary Ukuru Yatani has signalled more taxation in the next fiscal year by raising the budget 3.2 percent to Sh2.97 trillion but cutting back on borrowing for the first time in four years.
Treasury orders repeat special audit of unpaid bills in counties
Tuesday January 26 2021
By OTIATO GUGUYU
Summary
Office of the Auditor-General (OAG) last year conducted a special audit that revealed that as at June 30, 2018 only Sh51.2 billion pending bills by counties were payable, while the rest totalling Sh37.7 billion were found to be ineligible for payment due to lack of supporting documents.
A number of county governments, however, wrote to the OAG disputing the eligibility of some of the pending bills.
A pile-up of pending bills among counties and State corporations has dealt small businesses a major blow.
The Treasury has ordered a repeat special audit of county pending bills following complaints about the authenticity of some supply contracts.