MPs Propose Radical Cuts In Levies And Taxes On Petroleum Products
Kenyans were met with shock following the sudden increase in fuel prices in contrary to their expectations.
However, a matter which has been on the floor of the parliament for quite some time indicates that there is still no light.
The committee which was given the mandate to review the fuel prices is racing against time to meet the 14 days ultimatum.
The treasury equally has submitted that it will require one month to discuss with relevant stakeholders on the fuel prices as the global market begin to sound an alarm of even tougher times ahead.
In a desperate move to save Kenyans from high fuel prices and rise in the cost of living, the committee has fronted radical changes to the current taxations and levies.
In their proposal, the petroleum development levy whose current rate stands at 5.4% is to be reduced to 0.4% per liter.
The railway levy is to be reduced from the current 2% to 1.5% according to the presentation made before treasury.
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