Kerosene price increases as President Uhuru signs Bill into law

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“Pursuant to the Finance Act 2018, the Value Added Tax (VAT) on Super Petrol, Diesel and Kerosene has been revised from 16 per cent to 8 per cent. Accordingly we have recalculated the maximum pump prices that will be in force from September 21 to October 14 taking into account the VAT at 8 per cent,” he said. In September-October monthly fuel review, the regulator lowered the price of super petrol by Sh2.21 while the prices of diesel and kerosene went up up slightly by Sh.0.39 and Sh0.29 per litre respectively. This Finance Bill 2018 which has now been signed into law by President Uhuru was passed by the National Assembly on Thursday amidst claims of underhand dealings and blackmail in parliament. The law reflects the President’s recommendations for a reduction of VAT on petroleum products from 16 to 8 per cent among other amendments on various taxes. Speaking at State House on Friday morning, the President said he would not relent on the war against corruption. He emphasized his commitment in ensuring that public resources are utilized effectivelySEE ALSO :The winners and losers in city tax plan
“I give my commitment that I will ensure proper utilisation of public resources for a better Kenya,” he said.