Kenya · Country watch
KRA Car Import Tax Changes, Cargo Costs Rise
Kenya's cargo transport costs increase due to inefficiencies, while KRA plans changes to car import taxes.
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Business conditions in Kenya are mixed. Cargo transport costs rise due to inefficiencies, while KRA's proposed car import tax changes could impact the automotive sector. Regulatory reforms in environmental safeguards may affect construction timelines.
In this briefing Kenya Revenue Authority · World Bank Group · World Bank · Mombasa-Nairobi transport corridor
Regulation
KRA hints at changes to car import tax calculations
The Kenya Revenue Authority (KRA) is considering changes to how it calculates the cost of imported cars, according to Kenyans. Currently, KRA uses the CRSP schedule to determine a car's reference value before applying depreciation based on age. The proposed changes aim to adjust these calculations, and KRA has begun consultations with industry stakeholders.
Impact Car importers may face altered tax liabilities, affecting pricing strategies.
Sources: Kenyans ↗
World Bank urges Kenya to strengthen environmental safeguards
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The World Bank Group has released a report urging Kenya to enhance its implementation of environmental and social safeguards, according to KBC. The report identifies gaps in the current systems that could expose communities and ecosystems to risks from development projects. It proposes reforms to improve risk management and regulatory compliance.
Impact Construction firms may face stricter compliance requirements, affecting project timelines.
Sources: KBC ↗
Trade
World Bank: Kenya cargo costs rise due to inefficiencies
A World Bank report highlights that inefficiencies along the Mombasa-Nairobi transport corridor are driving up cargo transport costs in Kenya, according to Standard Media. These inefficiencies, which include corruption and delays, are increasing the cost of moving goods, impacting the country's competitiveness and trade operations.
Impact Importers and exporters face higher logistics costs, affecting trade margins.
Sources: Standard Media ↗
Nothing significant reported today in Disruption · Internal tension · Safety & health · Companies · Markets · Politics.
Also today in the local press
- EPRA Announces November-December Fuel Prices — Kenyans
- Industry projected to overtake agriculture in Rebased GDP estimates — Capital
- Galaan Multipurpose Port approved as Ethiopia’s new multimodal logistics hub — Capital
- Clashes Erupt at Event Attended by Ruto — Kenyans
- Awash insurance posts 1.84 billion birr pre-tax profit, up 65% — Capital
- Nigeria Issues Travel Advisory After 16 Citizens Die in Ethiopia — Kenyans
- Kenya Met Warns of 5 Days of Rains and Cold Across Several Counties — Kenyans
- EEP’s power export revenue reaches $76.62 million in the first quarter — Capital
Sources in this briefing
- KBC 1
- Kenyans 1
- Standard Media 1
Sources: each headline links to the original article on the publisher's site.