Imported cars at a parking yard/FILEIn a notice, the authority informed the public that the revised CRSP will be used in determining the customs value for imported used vehicles.
The update, it stated, comes after extensive consultations with key stakeholders, ensuring that industry feedback was incorporated into the final pricing schedule.
"The updated CRSP list has been published on the KRA website," the notice reads.
"Importers, clearing agents, and other stakeholders are encouraged to review the changes and familiarise themselves with the new pricing framework ahead of the implementation date."
The Commissioner for Customs and Border Control reiterated the importance of compliance and urged stakeholders to prepare accordingly.
In a related message, KRA also reminded taxpayers of the ongoing opportunity to apply for tax amnesty.
CRSP is the official price that the KRA uses to calculate taxes on imported used cars.
It establishes official retail prices for vehicles, which form the basis for import tax calculations.
Instead of using a fixed retail price, it will now base taxes on the actual price paid for the vehicle, making valuations more accurate and fair.
This means that the taxman will base taxes on the real price paid for the vehicle, as shown in invoices and receipts. The value of the car is reduced based on its age, meaning older cars are taxed fairly.
As per the updated list, importing a Vitz Hybrid F will cost Sh3,440,622 while a Mazda CX-5 20S will cost Sh6,839,016.
