Protesters in thika Town have today stonned the Equity Bank Branch after the Chief executive Officer Mr James Mwangi Urged President Uhuru Kenyata not to suspenf the 16% VAT fuel tax.
Protesters in Thika town have stoned Equity bank branch following calls by CEO James Mwangi urging President Kenyatta not to suspend the 16% fuel tax. pic.twitter.com/RxExt5kNX2
— Sande Kennedy (@honSANDEKENNEDY) September 4, 2018
The Kenya Revenue Authority announced new taxes on all petroleum products effective September 1 despite protests.
Equity Bank Group CEO Dr. James Mwangi adds his views on the on going VAT on fuel debate. Video via @KBCChannel1 pic.twitter.com/svyiDqiSBI
— Terryanne Chebet (@TerryanneChebet) September 3, 2018
KRA Commissioner- General John Njiraini, in a statement on Saturday, informed Kenyans, oil marketers, resellers and retailers that Value Added Tax (VAT) will be charged on all petroleum products at a rate of 16 per cent on all transactions with effect from September 1.
This means that cost of transport, cost of living, goods and services will also be high, further hurting poor families. A litre of petrol will now cost Sh130 up from Sh112.
President Uhuru Kenyatta, who left the country on Saturday for China, is yet to sign Finance Bill 2018 which MPs passed on Thursday, postponing the increase to 2020.
MPs, business community and other leaders had asked the government to shelve the increase saying it will hurt the common man.