VAT
![Government drops contentious tax proposals from the Finance Bill 2024. Government drops contentious tax proposals from the Finance Bill 2024.](https://famanconsultants.com/wp-content/uploads/2024/05/kra.png)
Government drops contentious tax proposals from the Finance Bill 2024.
16% VAT on bread removed
Excise duty on vegetable oil removed
VAT on transportation of sugar removed
2.5 per cent Motor Vehicle Tax removed
Eco Levy on locally manufactured products removed
eTims receded from farmers and small businesses with a turnover of below Ksh.1 million
Excise duty imposed on imported table eggs, onions and potatoes to protect local farmers
No increase on mobile money transfer
VAT on financial services and foreign exchange transactions has also been removed
Threshold for VAT registration has been increased from KSh5 million to KSh8 million. This therefore means that many small businesses will no longer need to register for VAT
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