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HomeNewsGovt Removes VAT On Bread & 9 Others After Uproar From Kenyans

Govt Removes VAT On Bread & 9 Others After Uproar From Kenyans

Finance Committee Chair Kimani Kuria announced that the government was able to respond to the feedback of Kenyans

The Kenya Kwanza Parliamentary Group has confirmed the removal of several punitive tax proposals in the Finance Bill 2024, during a press briefing held on Tuesday, June 18 at State House.

Speaking after the Group’s session, Finance Committee Chair Kimani Kuria announced that the government was able to respond to the feedback of Kenyans through the reduction of the following taxes:

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  1. 16% VAT on bread removed
  2. Excise duty on vegetable oil removed
  3. VAT on transportation of sugar removed
  4. 2.5 per cent Motor Vehicle Tax removed
  5. Eco Levy on locally manufactured products removed
  6. eTims receded from farmers and small businesses with a turnover of below Ksh.1 million
  7. Excise duty imposed on imported table eggs, onions and potatoes to protect local farmers
  8. No increase in mobile money transfer
  9. VAT on financial services and foreign exchange transactions has also been removed
  10. The threshold for VAT registration has been increased from Ksh5 million to Ksh8 million. This therefore means that many small businesses will no longer need to register for VAT

More to follow…

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