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On 20th May 2024, KRA announced its intention to conduct a public participation exercise to gather views on the Free on Board (FOB) values for used motor vehicles. This initiative is in preparation for the implementation of a new motor vehicle valuation database by 31st August 2024.
This decision follows the court ruling in the case of KRA vs. Car Importers Association, which found that the current retail selling price (CRSP) values published on the KRA website were established without public participation, thus violating Articles 10 and 47 of the constitution and rendering them unconstitutional.
In Kenya, the value of a brand new motor vehicle is commonly referred to as the CRSP. The CRSP was introduced to ensure that the taxes payable by car importers are fair and reasonable.
Please click on the link below for further insights.