@CITIZENTV

President Uhuru Kenyatta proposes fuel tax reduction to 8pc

3 months ago, 14 Sep 15:24

By: Rachel Ombaka

President Uhuru Kenyatta on Friday proposed that the 16percent fuel tax be reduced by half.

During his much anticipated address to the nation, the President expressed concern over the increased tax burden that was placed on Kenyans when the VAT was effected.

“I have heard and understood your concerns, which is why I have proposed, as part of my memorandum, to cut VAT on petroleum products by 50% — from 16% to 8%.

“Should Parliament accept this proposal, the price of super petrol will drop from KSh 127 to about KSh 118, and the price of diesel will drop from KSh 115 to about KSh 107. Just as business owners took the new VAT rate as an opportunity to increase the cost of goods and services, I expect them not to take advantage of weary citizens, and to lower their prices commensurately and without delay,” he said.

The Finance Bill 2018 was returned to Parliament on Thursday evening and Speaker Justin Muturi confirmed that the House will be reconvened on September 18.

President Uhuru Kenyatta further explained the reasons behind increasing Value Added Tax as “the new constitutional order, and the public services on which Kenyans depend”.

He also announced an increase in finances to the Judiciary that recently criticised Treasury over budget cuts.

The Office of the Director of Public Prosecution is also to benefit from the proposed changes.

 


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President Uhuru Kenyatta proposes fuel tax reduction to 8pc

3 months ago, 14 Sep 15:24

By: Rachel Ombaka

President Uhuru Kenyatta on Friday proposed that the 16percent fuel tax be reduced by half.

During his much anticipated address to the nation, the President expressed concern over the increased tax burden that was placed on Kenyans when the VAT was effected.

“I have heard and understood your concerns, which is why I have proposed, as part of my memorandum, to cut VAT on petroleum products by 50% — from 16% to 8%.

“Should Parliament accept this proposal, the price of super petrol will drop from KSh 127 to about KSh 118, and the price of diesel will drop from KSh 115 to about KSh 107. Just as business owners took the new VAT rate as an opportunity to increase the cost of goods and services, I expect them not to take advantage of weary citizens, and to lower their prices commensurately and without delay,” he said.

The Finance Bill 2018 was returned to Parliament on Thursday evening and Speaker Justin Muturi confirmed that the House will be reconvened on September 18.

President Uhuru Kenyatta further explained the reasons behind increasing Value Added Tax as “the new constitutional order, and the public services on which Kenyans depend”.

He also announced an increase in finances to the Judiciary that recently criticised Treasury over budget cuts.

The Office of the Director of Public Prosecution is also to benefit from the proposed changes.

 


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