The cost of basic goods like detergents, cooking oil, electricity, airtime and services like pay TV subscriptions have dropped marginally after the Treasury's measure to reduce the Value-Added Tax rate from 16 to 14 percent kicked in Wednesday.The reduction in VAT is part of the raft of measures announced by President Uhuru Kenyatta last month to ease pain on households facing lower incomes arising from the slowdown in the economy caused by the Coronavirus pandemic.Companies like Safaricom and Multi-Choice Wednesday moved to adjust their product prices in line with the VAT reduction.

Source: Business Daily