Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    KahawatunguKahawatungu
    Button
    • NEWS
    • BUSINESS
    • KNOW YOUR CELEBRITY
    • POLITICS
    • TECHNOLOGY
    • SPORTS
    • HOW-TO
    • WORLD NEWS
    KahawatunguKahawatungu
    BUSINESS

    Tax For Cashless Transactions, Kerosene To Go Up In Uhuru Suggestions

    Francis MuliBy Francis MuliSeptember 19, 2018Updated:September 19, 2018No Comments2 Mins Read
    Facebook Twitter WhatsApp Telegram Email
    [PHOTO/ COURTESY]
    Share
    Facebook Twitter WhatsApp Telegram Pinterest Email Copy Link

    In the memorandum on the Finance Bill, 2018, President Uhuru Kenyatta suggested that cashless/mobile money transfers excise duty be increased from 12 per cent to 20 per cent, a 66 per cent increase.

    “Excise duty on fees charged for money transfer services by banks, money transfer agencies and other financial service providers shall be 20 per cent of their excisable value,” said the President in the memorandum.

    President Kenyatta also suggested that taxation imposed to betting firms be reduced from 35 per cent to 15 per cent, whilst all winnings for gamblers be slashed by 20 per cent in terms of taxes.

    Household using kerosene will be hard hit with the introduction of an adulteration levy to harmonise the price of kerosene with that of diesel.

    Read: SIM Card Hawkers To Pay Ksh500,000 In Fines Or Face One Year Jail Term

    The levy shall be paid by the importer at the rate of Sh18 per litre of all illuminating kerosene imported into the country for home use in a move that will push the commodity’s retail price much closer to diesel.

    Also, the President suggests Housing Development Fund tax to be paid by the employee at 1.5 per cent and employer at 1.5 per cent of the monthly basic salary. Penalty of 5 per ceny for employer who fail to submit the contributions.

    President Kenyatta also proposes telephone and internet data services excise duty at 15 per cent of excisable value up from current 10 per cent.

    He also suggests a Ksh20 levy per kilogram of all sugar confectioneries including white chocolate.

    The amendments are due for a plenary discussion at the National Assembly on Thursday and are among those that MPs shot down in August.

    Do you have a story you want told? Do you know of a sensitive story you would like us to get our hands on? Email your news TIPS to Editor@kahawatungu.com Also WhatsApp 0708677607 with your news tips

    Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel

    Finance Bill 2018
    Follow on Facebook Follow on X (Twitter)
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email
    Francis Muli
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    Follow me on Twitter @francismuli_ Email: Editor@Kahawatungu.com

    Related Posts

    Common Trade Show Booth Mistakes That Cost You Leads ( And How to Avoid Them ) 

    February 27, 2026

    6 ways the best payment gateway for India reduces abandoned carts

    February 26, 2026

    Okoa Uchumi Coalition Backs Legal Anchoring of National Infrastructure Fund but Raises Concerns

    February 26, 2026

    Comments are closed.

    Latest Posts

    Opposition alleges international crimes, demands urgent probe

    February 27, 2026

    Man slapped with landmark 50-year sentence, Sh50 million fine in Bomet drug trafficking conviction

    February 27, 2026

    Kilifi man who killed wife over Instagram dispute gets 30-year jail term 

    February 27, 2026

    Appellate court suspends ruling on police commission powers to recruit officers 

    February 27, 2026

    US embassy says non-essential staff can leave Israel amid possibility of strike on Iran

    February 27, 2026

    Chelsea to face holders PSG in Champions League’s last 16

    February 27, 2026

    Kindiki confident Broad-Based Government will win 2027 polls

    February 27, 2026

    At least 55 Ghanaians killed in Russia-Ukraine war, minister says

    February 27, 2026
    Facebook X (Twitter) Instagram Pinterest
    © 2026 Kahawatungu.com. Designed by Okii.

    Type above and press Enter to search. Press Esc to cancel.