The World Bank (WB) has urged Kenya to consider a raft of reforms, including a value-added tax (VAT) deferment scheme on fruit processing equipment and suspension of the certificate of conformity for medical devices, saying it would unlock Sh194.6billion investment and create about 80,000 jobs.
VAT deferment is a tax relief mechanism that allows eligible importers to postpone paying import VAT on qualifying capital goods at the port of entry.
