Among the key issues deliberated on were public participation on Bills affecting the business environment in Kenya, the Budget process and the need for strengthened Parliamentary oversight of the Executive.
The regulatory burden on businesses needs to be monitored by the National Assembly to avoid the imposition of a heavy regulatory burden for businesses, which impacts their compliance.
As such, there is need for a regulatory audit of laws prior to their presentation in Parliament. This should involve the interrogation of documentation, policies, processes, and operating procedures, to ascertain compliance with prevailing legal requirements to eliminate duplicities and overlaps.
Additionally, public participation needs to be meaningful and should provide adequate time to affected stakeholders to be given an opportunity to present their views on the new laws, Bills or regulations.
To allow for tax predictability and drive compliance to existing laws and regulations, there is need for a review of the bills introducing national taxes and the introduction of the requirement to have all taxes amended or adjusted under the Finance Bill during the budget making process.
Hon. Moses Wetangula underscored the role of the manufacturing sector in driving the country’s economic growth and reiterated the need for an improved regulatory landscape to enhance the sector’s competitive edge.
He also affirmed his commitment towards supporting the Association in resolving the issues raised through the relevant Parliamentary Committees and stakeholders.