MPs effect 14% VAT, warn of Sh49bn revenue loss - News Summed Up

MPs effect 14% VAT, warn of Sh49bn revenue loss


Member of the National Assembly on Tuesday voted to ratify the regulation setting the VAT at 14 per cent. Lawmakers gave the National Treasury the legal authority to implement the VAT regime in all transactions that attract the tax. The High Court in the case of Okiya Omtatah versus the National Treasury declared that collection of tax before an Act is in place is null and void. This came as an MP sought to have the government set aside Sh100 billion to be channelled to Kenyans living below two dollars a day. Thika Town MP Patrick Wainaina said the effects of the coronavirus outbreak has seriously hurt millions of Kenyans living hand-to-mouth as they find it hard to put food on the table.


Source: The Star April 14, 2020 17:03 UTC



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