As Kenyans await President Uhuru Kenyatta to asset his signature on the new amendment on the 16% VAT on fuel prices, the unlucky ones will continue to pay through the nose for their day ends to meet.
The new tax hiked fuel costs across the country from September 1st this year, the worse part will be when the president refuses to put a signature on it!.
Besides, Kenyans have taken their campaign online which seeks to urge the president to sign the bill and reduce the living standards of the normal Kenyans who are struggling with other money demanding issues.
5 Facts You Need To About Newly Introduced 16% VAT On Fuel Price
- The Value Added Tax law inclusion on all fuel products was passed in parliament in 2013, however it was given a three year grace period. The 16% VAT did not take effect after it was extended for another two years from September 1st 2016.
- Suna East MP Junet Mohamed proposed on 1st of September in 2018 a motion that will see the VAT exception to be extended for another two years, making it invalid until 2020.
- President Uhuru Kenyatta has got only two weeks to assent to the bill, if he does not it automatically becomes the law.
- Kenya Revenue Authority has already engaged the Energy Regulation Commission which has in effect implement the new regulations
- In Nairobi new Petrol fuel is retailing at sh.130 for a litre while the same for diesel is at sh.117.
- The bill was enacted in line with the IMF conditions.
