Just a day ago, the Kenya Revenue Authority announced that, effective July 1, the Authority would implement the new Current Retail Selling Price (CRSP) schedule, changing how customs duty on imported second-hand cars is calculated.
The CRSP is the official price that the KRA uses to calculate taxes on imported used cars.
It establishes official retail prices for vehicles, which form the basis for import tax calculations.
Instead of using a fixed retail price, the KRA will now base taxes on the actual price paid for the vehicle, in a move they argue would make valuations more accurate and fair.
