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Tuesday, 14 July 2015

Manufacturers seek exemption from new EAC levy

Kenyan manufacturers want to be exempted from the 1% levy on imported raw material coming into the East African region, which was introduced in the EAC 2015/16 Budget. The request was made by the manufacturers’ lobby, the Kenya Association of Manufacturers (KAM), during a meeting chaired by Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed Monday in Nairobi. During this Sectoral Council of Industry, Trade, Finance and Investment (SCITFI) meeting, KAM Chief Executive Phyllis Wakiaga recognized, “we realised a number of positive gains for local industry. These included approval of implementation of the revised EAC rules of origin, adoption of Kenya’s position to split the Anti-Counterfeit law and Competition law and referring the Anti-Counterfeit Bill and Policy to a meeting of experts.” Currently, about 70% of the EAC budget is to be funded by Development Partners and other revenue. There are fears that the one per cent levy will increase the cost of doing business in the region, especially given that most raw materials are imported.

Source: standardmedia.co.ke