Kenya projects to collect Sh2.89 trillion in the 2023/24 financial year (FY), representing 17.8 percent of the gross domestic product (GDP).
The collection will represent an increase of about Sh370 billion over what was collected in the previous fiscal year.
The state is also proposing a VAT exemption on liquefied petroleum gas (LPG) to reduce prices and discourage the use of biomass fuel and the destruction of forests.
“In order to promote local processing of tea and value addition for export, the Bill proposes to exempt from VAT, tea purchased from factories or the auction centre for the purposes of export,” it said.
Source: www.capitalfm.co.ke
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