Connect with us
Advertise With Us

NEWS

Kenya Moves To Cut Fuel Tax To 8%

Published

on


Kenyatta rejected on Thursday a parliamentary finance bill that sought to postpone the tax altogether.

Parliament will reconvene next week to examine Kenyatta’s new proposal.

Kenyan authorities had faced a strike by some fuel dealers, anger among commuters and a lawsuit after transport and fuel prices rose when the 16 per cent value-added tax on all petroleum products entered into force on Sept. 1.

The president attributed his decision to the need to fund development as well as new layers of government created by the 2010 constitution.

“I must make a delicate balance between short-term pain and long-term gains,” he said in a televised address.

He said the government would still face funding gaps even after the new, lower VAT rate on fuel, adding that he had proposed cuts to the government’s spending plan across the board.

Some of those savings would be directed towards the budgets of institutions tasked with fighting corruption, including the judiciary and the prosecution service.(Reuters/NAN)



Copyright LEADERSHIP.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: [email protected]





Which party would you vote for President in the 2019 general election?

View Results

Loading ... Loading ...


Advertisement

Sign up for our newsletter

Advertisement

MOST POPULAR

Pin It on Pinterest

Share This

Share this post with your friends!