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GoK is set to exempt locally assembled passenger cars from VAT and excise taxes, a move that could see prices of the automobiles fall by hundreds of thousands of shillings. — Business Daily #Budget2022KE #SpaceYaMagari
This will see the cars exempt from the entire major taxes that are applicable on fully-built units imported from overseas markets like Japan, the UK, and South Africa.
Cars manufactured abroad are charged an import duty of 25%, excise duty of 20%, and VAT of 16%, payable cumulatively and in that order.
GDP growth forecast at 6%, the Finance Minister says, citing agriculture as one of the key drivers.
Curious. We’re smack in the middle of a nasty drought, so what underpins that expectation of agriculture being a key growth driver?
#Budget2022KE #BudgetKE #Budget2022
Curious. We’re smack in the middle of a nasty drought, so what underpins that expectation of agriculture being a key growth driver?
#Budget2022KE #BudgetKE #Budget2022
5.1 million jobs, cumulatively, created in formal & informal sectors, Finance CS says, since 2013.
What he’s not saying: bulk of those jobs have been created in the informal sector, where job security is scarce, earnings are often lower.
#Budget2022KE #BudgetKE #Budget2022
What he’s not saying: bulk of those jobs have been created in the informal sector, where job security is scarce, earnings are often lower.
#Budget2022KE #BudgetKE #Budget2022
The 'jobs created' line here from the Finance CS is not really the flex the Executive reckons it is. Also, the pace of job creation in the formal sector has been in decline.
#Budget2022KE #BudgetKE #Budget2022
#Budget2022KE #BudgetKE #Budget2022
