MPs approve extension of 8% VAT on fuel for another 90 days
Originally published by KBC Digital — Read the original article →
The National Assembly has approved the Tax Laws Amendment Bill which seeks to extend the reduction of Value Added Tax on petroleum products from 16% to 8%.
The bill which contains amendments to VAT Act introduced by the Majority Leader Kimani Ichungw’a targets to extend the relief which was introduced in April this year to cushion consumers from rising global oil prices.
The bill also gave National Treasury Cabinet Secretary powers to extend the new tax rate by another three months which expires on October 15, 2026.