Tag: Bankers
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KBA Warns Proposed VAT on Repossessed Assets Could Raise Loan Costs
The Kenya Bankers Association has warned that Kenyans could face higher borrowing costs if the Kenya Revenue Authority is allowed to impose Value Added Tax (VAT) on the sale of repossessed assets. In submissions before the Tax Appeals Tribunal on Sunday, May 24, the bankers’ lobby argued that the proposal contained in the Finance Bill…