Value Added Tax (VAT)
The Value Added Tax (VAT) is a consumption tax collected through agents at points of purchase. The Exchequer intends to review its thresholds upwards in view of VAT erosion over time. Its threshold currently stands at Ksh. 5M even as the government proposes to add more collecting agents to its base.
There will also be a review on VAT exemptions and zero rating as VAT revenue as a percentage of the GDP had decreased over time. The draft MTRS document says the government shall limit zero rating to exports and remove all exemptions except for unprocessed goods.
- VAT on Education
- VAT on Insurance
- Excise Duty on Petroleum Products, Tobacco products, and Sugary juices
- Carbon Excise Tax and Green Fiscal Incentives
Source: www.citizen.digital
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