More Pain: William Ruto's Gov't Collects Over KSh 29b Monthly after Fuel Tax Hike

 

President William Ruto's administration revised the Value added Tax (VAT) on petroleum products from 8% to 16%. Fuel taxes in Kenya This saw an increase in taxes collected per litre of petrol, diesel and kerosene to KSh 29.2 billion per month, following a spike in pump prices. The Energy and Petroleum Regulatory Authority (EPRA) latest review will see Kenya Revenue Authority (KRA) collected KSh 79.31 per litre of petrol, KSh 67.35 per litre of diesel and KSh 62.81 per litre of kerosene. This is a KSh 5.79 billion increase in fuel taxes, up from KSh 23.38 billion raised per month before the increase in VAT, Business Daily reported. The taxman collected KSh 134.85 billion in fuel taxes in the six months to June 2022. The energy regulator's report showed a 10.8% increase in fuel taxes from KSh 121.61 billion reported in June 2021. Pump prices The recent rise in taxes has seen an increment in prices of super petrol, diesel, and kerosene by KSh 21.32 and KSh 33.13 per litre, respectively. These huge increments to be ever witnessed in the recent past raised a litre of Super Petrol to retail at KSh 211.64, diesel at KSh 200.99 and kerosene at KSh 202.61. RECOMMENDED FOR YOU Francis Atwoli's Wife Mary Kilobi Flaunts Their Majestic Khwisero Home High pump prices escalated the burden Kenyans are facing due to the rising cost of living. Matatu Owners Association (MOA) announced a 30% fare increase to offset the high fuel prices. A spot check on Monday, September 18, showed long-distance Public Service Vehicle (PSV) operators had increased fares to a maximum of KSh 2,000. BY TUKO NEWS