The Kenya Revenue Authority (KRA) has defended its decision to revise the retail selling prices of imported used motor vehicles, following a push back from dealers who warn the move could push up retail prices.
The Authority says the revision, the first since 2019, was made after consultations with stakeholders and will adopt the Current Retail Selling Price (CRSP) method to address persistent challenges in valuing used vehicles. "This approach aims to standardise values and ensure predictability and transparency within the industry," said KRA in a statement on Friday, June 6.
In a public notice dated May 30, KRA said the 2019 CRSP database was outdated and excluded newer car models, prompting the review.
The CRSP is used to calculate taxes on imported vehicles.
