Kenyan Alcohol, Tobacco Manufacturers Oppose Higher Excise Tax
(Bloomberg) -- The Alcoholic Beverages Association of Kenya and tobacco manufacturers including British American Tobacco Kenya Ltd. “strongly oppose” a decision by lawmakers to raise excise tax rate to 21% from the 15.85% proposed by National Treasury in the Finance Bill.
“For heavily taxed industries such as ours, where up to 60% of revenues goes to taxation, such increases only further incentivise tax evasion, smuggling and counterfeiting,” the manufacturers said Saturday in a joint emailed statement.
Kenyan President Uhuru Kenyatta has until Sept. 30 to assent to the Finance Bill or reject it.
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