Unnecessary Taxation

[ad_1] In a bid to expand the domestic tax bracket, Kenya Revenue Authority will require all licenced manufacturers, importers, retailers, and distributors of bottled water, juices, energy drinks, non-alcoholic drinks, and soda to have an excisable stamp. The directive will take effect on 13 November 2019 as the manufacturers and importers will get the stamps from the excisable goods management system. However, juices, soda, and bottled water imported or manufactured prior to the going live date will be allowed to stay in the market until 31 January 2020. Excisable goods found not bearing an excise stamp after the set deadline will be confiscated and the manufacturers will be prosecuted. The excisable goods management system was introduced to fight the growing cases of counterfeit products in the Kenyan market. However, manufacturers oppose the system as it will add to their operating expenses. [ad_2] Source link