Treasury Cabinet Secretary John Mbadi has clarified that the Finance Bill 2026 does not introduce new taxes on cryptocurrency, bread or mobile money transactions.
Mbadi spoke during a press briefing on Monday, May 25 after the Treasury posted official infographics. He explained that proposals on digital assets seek to address gaps in the legal framework rather than impose new taxes.
He refuted reports of a 5 per cent withholding tax on digital content creators and VAT on bread. He also stated there is no motor vehicle circulation tax or government access to personal M-Pesa data.
The Treasury confirmed that proposals to raise residential rental income tax and tax imported mitumba clothing were withdrawn after public consultations. The clarifications come as lawmakers prepare to review the Bill following public participation.
