Restraining the taxman

The Finance and Planning Committee of the National Assembly has released its report for the Finance Bill. In that dense document, hundreds of suggestions have been made. Here is what caught our eye…

I am Brian from The Kenyan Wall Street and these are our day's business stories:

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🛡️ Restraining the Taxman 

In a rare moment of restraint, Kenyan lawmakers have swatted down two controversial tax provisions that would have expanded KRA’s reach into private digital systems and frozen assets mid-appeal. The proposals—dropped quietly in committee—had sparked fears of state overreach under the guise of reform. While Treasury chases KSh 30 billion in compliance-driven revenue, Parliament seems wary of weaponizing access. In a season of austerity, your privacy may live to see another budget cycle. Read it here »»»»»

🔎 Cracking Down On Dirty Cash

Nairobi has taken a sharp turn on dirty money: President Ruto signed sweeping AML reforms into law just as Brussels edged Kenya closer to financial infamy. At the heart of the shift is a long-overdue reckoning with crypto, where virtual asset firms will now face real-world scrutiny. The legislation’s teeth lie not just in compliance demands, but in a regulatory table tennis between CBK and the Capital Markets Authority. Whether this curbs the tide, or simply reshuffles it, remains to be seen. Read it here »»»»»

🕵️‍♂️ Tread with Caution : Digital Scams on the Rise 

Kenya’s digital frontier is increasingly becoming a hunting ground for fraudsters. A staggering 82% of citizens were targeted in recent months, with smishing and phishing topping the con artist's toolkit. As mobile-first scams surge, trust in platforms is fraying; many consumers now abandon financial apps over data fears. In a land where 91% prioritize digital safety, the fraudsters are adapting faster than the defenses. Read it here »»»»

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