KAM CEO’s Brief | 5th October 2018
Industry recommends Taskforce to advise on tax policies
Kenya Association of Manufacturers (KAM) recommended the formation of an industry-led multi stakeholder Taskforce that will advise on people-driven public expenditure, debt and taxation policies, and long term industrial measures to drive competitiveness for the manufacturing sector on 2nd October 2018
The government, through the Finance Act, 2018 introduced new tax measures aimed at increasing its revenue collection, including the 8% VAT on fuel, excise duty on fees charged for money transfer services, excise tax on sugar confectionery, anti-adulteration levy on all illuminating kerosene among others.
Speaking during a forum on the implications of the Finance Act, 2018 to the Manufacturing Sector, KAM Vice Chairman, Mr Mucai Kunyiha noted it is important that we develop national conducive fiscal policies aimed at driving the competitiveness of industry at both local and global markets.
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