The Kenya Kwanza government has repeatedly been blamed for increasing the yoke of taxes, and the introduction of levies that Kenyans cannot keep up with. Among the new proposed taxes in the Finance Bill is the highly debated motor vehicle tax, at the rate of 2.5 per cent of the value of the motor vehicle. Payable at the time of issuance of insurance cover for motor vehicles, this tax is between Sh5,000 and Sh100,000. “There is a risk it might push people to delay renewing their motor vehicles insurance due to the additional cost. When they were campaigning, they told Kenyan they would reduce the taxes but upon taking power, they have been increasing taxes in every way,” he says.

Source: Daily Nation June 08, 2024 21:04 UTC