- Kenya Association of Air Operators (KAAO) says deletion of VAT exemptions in 2024 Finance Bill will impede growth and investment in aviation sector
- Bill seeks to eliminate VAT exemptions previously granted to aviation sector
- Exemptions targeted for removal include aircraft, spacecraft, hiring/leasing/chartering aircraft
- Revocation of aircraft VAT exemptions will increase acquisition costs for airlines and operators
- Removal of exemptions will impact air travel, charter services, cargo services, aerial services, UAV services, balloon operations, aircraft repair and maintenance, and training prices
- Removal of exemptions for spacecraft and launch vehicles threatens to stifle investment in space-related endeavors
- ICAO and East Africa Common External Tariff recommend zero-rated taxes on aviation.
Source: capitalfm.co.ke
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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