The Finance Bill 2024 has proposed the introduction of a Motor Vehicle Tax, with a rate of 2.5 per cent of the vehicle's value.
The minimum tax payable to the Commissioner on each vehicle at the time of the issuance of an insurance cover will be Sh5,000 with a maximum amount of Sh100,000.
The Bill stated that the calculation would be based on make, model, engine capacity and year of manufacture.
Money transfer services will go up from 15 to 20%.
