President William Ruto has today taken a bold step and scrapped off taxes of some products. These are majorly the taxes that revolve around the electric motor cycle spare parts. This has been a very hot debate in the country.
He scrapped the taxes that are in relation to the electric motorcycle spare parts, batteries and all the other products that are associated with the manufacture of electric motorcycles. He did this because he wants to encourage the local manufacturers in the country to embrace the manufacturing of electric motorcycles.
The Kenya Kwanza has also promised to help that industry by helping in the acquisition of about 200,000 pieces by the end of this year. The Companies that are currently leading in this manufacturing are Opibus, Roam Air, Ampersand and STIMA.
This is indeed some good news for the Manufacturers of the electric motorcycles because they will get the opportunity to import the raw materials without having to pay the hefty taxes. This is relatively a new industry that is still taking shape.
Many people have not yet acquired the electric motorcycles in the country but once they get popular, then they can start thinking in that line. This is therefore an opportunity for those in this business to bring more spare parts as they can when the terms are still very favorable.
This is a brilliant way to encourage manufacturers into this new field. The favorable terms may even make many more people to venture into the same business and try their luck.
