Kenya’s government plans to gradually increase excise duty on cars running on fuel and introduce an annual wealth tax for car owners depending on the engine capacity.
The proposals are part of the draft medium-term tax revenue strategy, Business Daily newspaper reported.
The government will assess the viability of introducing motor vehicle circulation tax as a form of a wealth tax, the Treasury said.
The tax will be paid annually by motor vehicle owners at the point of acquiring an insurance cover.
Source: Zawya
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