The Divisionof Revenue Act 2022 - as Plain Text by MWakili

NATIONAL COUNCIL FOR LAW REPORTING LIBRARY SPECIAL ISSUE Kenya Gazette Supplement No.

59 (Acts No.

12) REPUBLIC OF KENYA KENYA GAZETTE SUPPLEMENT ACTS, 2022 NAIROBI, 8th April, 2022 CONTENT Act PAGE The Division of Revenue Act, 2022 145 NATIONAL COUNCIL FOR lAW REPORT" RECEV ED 20 APR 2022 P.

O.

Box 10443 00100, NAIROBI, KENYA TEL: 2719231 FAX: 2712694 PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTER, NAIROBI 145.

THE DIVISION OF REVENUE ACT No.

12 of 2022 Date of Assent: 5th April, 2022 Date of Commencement: 22nd April, 2022 ARRANGEMENT OF SECTIONS Section 1Short title.

2Interpretation.

3Object and purpose of the Act.

4Allocations to national and county governments.

5Variation in revenue.

SCHEDULE EQUITABLE SHARE OF REVENUE RAISED NATIONALLY BETWEEN THE NATIONAL AND COUNTY GOVERNMENTS FOR THE FINANCIAL YEAR 2022/23.

146 Division of Revenue No.

12 2022 THE DIVISION OF REVENUE ACT, 2022 AN ACT of Parliament to provide for the equitable division of revenue raised nationally between the national and county governments in 2022/23 financial year, and for connected purposes ENACTED by the Parliament of Kenya, as follows Short title.

1.

This Act may be cited as the Division of Revenue Act, 2022.

Interpretation.

2.

In this Act, unless the context otherwise requires "revenue" has the meaning assigned to it under section 2 of the Commission on Revenue Allocation Act, 2011.

No.

16 of 2011.

Object and 3.

The object and purpose of this Act is to provide for purpose of the the equitable division of revenue raised nationally between Act.

the national and county levels of government for the financial year 2022/23 in accordance with Article 203 (2) of the Constitution.

Allocations to 4.

Revenue raised by the national government in national and respect of the financial year 2022/23 shall be divided county governments.

among the national and county governments as set out in the Schedule to this Act.

Variation in 5.

(1) If the actual revenue raised nationally in the revenue.

financial year falls short of the expected revenue set out in the Schedule, the shortfall shall be borne by the national government.

(2) If the actual revenue raised nationally in the financial year exceeds the projected revenues set out in the Schedule, the excess revenue shall accrue to the national government, and may be used to reduce borrowing or pay debts.

147 2022 Division of Revenue No.

12 SCHEDULE (s.4) ALLOCATION OF REVENUE RAISED NATIONALLY BETWEEN THE NATIONAL AND COUNTY GOVERNMENTS FOR THE FINANCIAL YEAR 202 2/23.

Type/Level of allocation Amount in KSh.

Percentage (%) of 2017118 audited and approved Revenue i.e.

KSh.

1,413,694.84 Million A.

Total Sharable Revenue 2,141,584,412,556 B.

National Government 1,764,099,760,466 C.

Equalization Fund 7,068,474,211 0.5% D.

County Equitable Share 370,000,000,000 26.17%.