Parliament passes 2018/19 financial year budget

2018/19 financial year budget worth 33trillions

Parliament has finally passed the budget for the financial year 2018/19 worth 32.5 Trillion shillings.

The passed budget includes the recurrent Expenditure of 9.4 trillion shillings, Development Expenditure of 13 trillion shilling s and statutory expenditure of 10 trillion shillings.

Parliament also passed the Appropriation Bill, 2018, authorizing the public expenditure from the consolidated fund worth 22 trillion shillings as the government prepares to read the national budget on 7th June.

 The minister of finance matia Kasaija urged members of parliament to monitor at the districts whether the money appropriated is doing what it intended as this will facilitate the development of this country.

Works and Transport allocated 4.7 TRILLION  shillings, Energy and Mineral Development 2.4 TRLLION  shillings

Education 3.1 TRLLION  shillings

Interest Payments / -Treasury Operations  8.6 trillion  shillings

Security 2.1 TRILLION  shilling ,

Health 2.3 TRLLION shillings ,

Justice and constitutional Affairs  1.4 TRLLION  shillings ,

Accountability  entities 1.2 trllion  ,

Public Sector Management 1.8 billion shillings

Agriculture 914.7 billion shillings ,

Water and Environment 1.2 TRLLION  shillings

Public Administration 595.67 BILLION

Legislature 459.6 billion shillings

Lands, Housing and Urban

Gender ans social development Development   222.3 billion shillings

Gender, labour and Social Development 209.3 billion shillings , ICT & National

Guidance 181.07 bn, Tourism, Trade and Industry 158.2 BN and Science and Technology 209.3 billion shillings

The budget is expected to be financed through different means with URA expected to collect 16.4 trillion out of which 417 billlion shillings is expected to be collected from non-tax revenues while appropriation in  in Aid is expected to be 1.06 trillion shillings; domestic financing will be 897 billion shillings.

Some of the measures set by government to collect this tax including daily tax of 200 shillings on social media. One percent transaction tax on mobile money, 10% final withholding tax on commissions by telecommunication companies to mobile money and airtime, withholding on all winnings in sports betting and gaming .

Government will also be taxing  200/litre excise duty on cooking oil , 100 shillings to be collected on every litre of fuel,Increase excise duty on mobile money and bank charges from 10% to 15%  Impose Shs 200,000 excise duty on motorcycles at first registration among other measures.

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