President William Ruto signing the Finance Bill into Law-Photo|Courtesy
Finance Act 2026 exempts SACCOs, banks from VAT on repossessed collateral sales
Savings and Credit Cooperative Organizations (SACCOs), banks, and other financial institutions will no longer pay Value Added Tax (VAT) on the sale or disposal of repossessed collateral, following amendments introduced in the Finance Act 2026, which was signed into law by President William Ruto on June 23, 2026. This amendment marks a significant shift in…
