President Ruto’s Administration Proposes VAT Changes Leading to Increased Bread Prices and Vehicle Taxes

• President William Ruto’s administration is proposing changes to the country’s VAT system
• Changes will result in increased prices for bread and a new tax for motor vehicle owners
• The government is looking to fund the 2024-2025 budget through these changes
• Treasury is proposing a 16% VAT rate on bread, which was previously tax exempt
• Consumers may see a sharp rise in the cost of bread as a result of these changes

Source: citizen.digital

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.