Relief as Parliament suspends 16% V.A.T on petroleum products
On Wednesday afternoon the National Assembly suspended the implementation of 16 per cent Value Added Tax (VAT) on petroleum products following public uproar. The amendment to Clause 18 of the Finance
On Wednesday afternoon the National Assembly suspended the implementation of 16 per cent Value Added Tax (VAT) on petroleum products following public uproar.
The amendment to Clause 18 of the Finance Bill, 2018, was sponsored by Minority Whip and Suna East MP Junet Mohamed.
The House suspended the implementation of the VAT, which was to go into effect on September 1, 2018, for a period of two years.
In the event that the suspension by the Assembly is approved by President Uhuru Kenyatta, then the new interest rates will now take effect on September 1, 2020.
SOURCE: Citizen TV