2.5% annual tax on vehicle value ranging from Sh5,000 to Sh100,000 in Finance Bill 2024, payable with insurance, exempted for certain vehicles.

In the Finance Bill 2024, vehicle owners are set to pay a new annual tax ranging from a minimum of Sh5,000 to a maximum of Sh100,000, depending on their car's value. This 2.5% tax on the vehicle's value will be paid when issuing an insurance cover. The tax is exempted for ambulances, national and county government vehicles, Kenya Defence Forces, National Police Service, and National Intelligence Service vehicles.

May 11, 2024
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