Mbadi Defends Proposed Tax on Visa, Mastercard Transactions

Treasury Cabinet Secretary John Mbadi is defending proposed tax changes in the Finance Bill 2026 that would impose withholding tax on fees paid to global card payment firms like Visa and Mastercard. In a separate development, the Kenyan National Treasury announced that planned income tax cuts for low-income earners earning below Sh50,000 are impossible due to revenue concerns. This decision comes after the government reduced Value-Added Tax (VAT) on petroleum products. Meanwhile, global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan, with the forecast based on ongoing supply disruptions and logistical challenges.