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Piracy, VAT cost Longhorn Sh900m in sales

Longhorn Publishers group managing director Simon Ngigi. PHOTO | FILE

Longhorn Publishers has lost Sh900 million in sales through a mix of piracy, increased taxes on books and a new government initiative to distribute free books directly to public schools.

The Nairobi Securities Exchange-listed firm lost Sh450 million to piracy, Sh250 million due to the introduction of valued added tax (VAT) on books and Sh200 million to the Tusome Literacy Programme.

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Note: The results are not exact but very close to the actual.

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