LIVETEXT: Kenya 2013 national budget tax measures

Mr Rotich completes reading the budget speech at 4.00 PM, not all details were captured in the live text.

Amend Capital Markets Act to give investors licensed in other EAC countries the same rights as Kenyan players to boost capital raising activities.

Government to amend insurance act to allow external ownership in local insurance firms.

Amendments

Reduce tax on Senator Keg beer by 50 per cent to boost agricultural activities in barley and sorghum growing areas.

Deal with tax compounding at KRA so tax offenders can sort out their cases out of court.

Put tax on winners of gaming and gambling.

Railway development levy on all imported goods.

Exempt import duty on railway construction materials

Tax measures

Total expenditure is Sh1.04 trillion.

Overall deficit is Sh356.9 billion.

External grants from donors Sh67.4 billion.

Sh246 to go to development expenditure.

Sh8.6 billion for Youth Polytechnics.

Sh4.9 billion allocated to Higher Educations Loans Board for higher education.

Sh17.4 billion to be spent on laptops programme in which computer labs will be built and laptops bought and distributed, 1.3m laptops to be bought.

Sh10 billion has been allocated to primary education.

The Government to give tax rebates to employers who hire inexperienced university graduates to increase training and employment.

Sh8 billion set aside for irrigation projects and Sh2 billion for agri-business loans through commercial banks.

Parliament gets Sh19 billion for expanded representation and bicameral system installation.

Judiciary allocated Sh16.1 billion for reforms geared at hastening delivery of justice.

The Government is looking at tapping power from Congo DR and Ethiopia, says Rotich.

Sh75 billion allocated for investment in energy and Sh43.8 billion for power transmission.

Sh97 billion set aside for road repair and construction.

Theme of the budget is transformation for shared prosperity.

Mr Rotich commences the budget speech.

Treasury revenue collections estimated to be Sh1.27 trillion.

However, KRA only collected Sh707 billion last year in government revenues from taxes and other fees.

Kenya has a total debt of Sh1.8 trillion, with Sh800 billion borrowed in domestic debt and Sh1 trillion as external debt.

The county governments will receive Sh210 billion which is less than Sh258 billion which senators had proposed.

Cabinet Secretary for the National Treasury Henry Rotich to present a Sh1.6 trillion 2013/2014 budget soon.

The Jubilee Government is set to read its first budget after coming to power in what is set to reveal the priorities of the new leadership team.