Vehicle owners will start paying an annual tax of up to Sh100,000 depending on the value of their cars if Parliament endorses the proposal that looks set to increase motoring costs amid costly fuel and spare parts.
The Finance Bill 2024 proposes the introduction of a 2.5 per cent annual tax on the value of vehicles, with the deduction set at a minimum of Sh5,000 and a maximum of Sh100,000.
Source:
www.businessdailyafrica.com
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