Petroleum products have been a target for revenue to the point where taxes are more than the cost of the product. With all sectors heavily reliant of on fuel either for their production processes or taking products to market, fuel taxes almost guarantee increased revenues for the government. The government has, however, not tapped into the PDL Fund to stabilise fuel prices, citing lack of enabling regulations. Munyes said in a statement that high taxation of petroleum products is not unique to Kenya but a global practice. “Taxes and levies form a key component of the petroleum pump price not only in Kenya but across many countries.

Source: Standard Digital June 06, 2021 07:01 UTC