Business Daily | by Lynet Igadwah
The government 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.
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 percent, excise duty of 20 percent, and VAT of 16 percent, payable cumulatively and in that order…
