Coca-Cola, EABL fight new excise tax system

Soft drinks maker Coca-Cola will close shop and relocate its manufacturing plants to neighbouring countries if the taxman insists on implementing a Sh17.7 billion digital tax system that industrialists have opposed, the company’s officials told Parliament.

Coca-Cola said its opposition was hinged on the fact that the system would force it to part with between Sh8 billion and Sh11 billion annually based on the Sh1.50 stamp duty it is meant to impose on every bottle of water, juice and soda.