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Budget 2018 implications: What to expect - 8 months ago, 14 June 11:34

By: Edwin Okoth

As Treasury secretary Henry Rotich presents the budget speech today, some of the proposals for financing the spending plan are expected to hit ordinary consumers

Here are are some of the specific implications.

Construction materials – More expensive

To encourage construction of more housing, Rotich is expected to make taxable supplies imported or purchased for exclusive use in the construction of a minimum of 5,000 housing units by a licensed SEZ entity VAT exempt.

The move expected to make housing affordable will however mean that construction materials suppliers will not be able to claim input tax credits a move that may result into an increase in the cost of such materials.

Safety boots for firefighters, and protective clothes used in hospitals and Clinics - more expensive

Suppliers will pass down their irrecoverable VAT to consumers, a move that may make healthcare more expensive.

Fishing equipment to be more expensive

The move may affect the ...
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Category: business news markets corporate economy opinion

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