Corporate News
EAC double tax removal opens doors to investors
A margarine packaging line at BidCo refinery at Thika, a major player in the manufacturing sector. KRA will also roll out the Electronic Cargo Tracking System to enable effective monitoring of all transit goods to curb the diversion of such goods into the local market. Photo/FILE
Posted Monday, June 14 2010 at 00:00
The centres will be set up in Lunga Lunga, Isebania, Malaba/Busia and Namanga.
Another move set to appease the East African Cement Manufacturers Association is the removal of import duty on petroleum coke— a raw material used in the production of cement.
The move, which will lower the cost of producing cement in the region, comes just weeks after the association complained that lower external tariffs have allowed cheaper cement from outside the bloc to swamp the region’s market.
By lowering production cost instead of discouraging imports, Mr Kenyatta appears to have heeded calls from the landlocked countries which have been fighting for the elimination of import duty so as to lower costs in their construction sectors. Kenya is the leading producer and supplier of cement in the region.
Additional reporting by Johnstone ole Turana.
RSS