Economy

KRA destroys fake products worth Sh60m

times

Times Tower, KRA's headquarters. PHOTO | FILE

The Kenya Revenue Authority on Thursday destroyed counterfeit products worth Sh60 million in Nairobi after a countrywide inspection on premises suspected to be selling fake merchandise.

The campaign targeted wines, spirits and cigarettes seized in Nairobi, Central and Rift Valley regions.

“This will ensure that only approved excisable goods are consumed by the public”, said KRA’s head of market surveillance Caxton Masudi.

Similar raids have raised tax collected by 40 per cent with excise duty going up by 45 per cent in the second half of 2014.

KRA said the number of non-compliant products seized in Nairobi in 2014 was 324,670 with 281,258 found without stamps while 26,392 found with old stamps, 16,020 had no stamps and 600 had swapped stamps.

The campaign has uncovered a Sh6 billion tax evasion loophole, recovering Sh1 Billion in the process.