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SEZ developers, operators face Sh5m fine for improper records

Naivasha Special Economic Zone located next to Naivasha dry port in this photo taken on September 27, 2022. 

Photo credit: File | Nation Media Group

By  Charles Mwaniki

Business Reporter

Nation Media Group

Operators and developers of special economic zones (SEZ) face a 12-fold increase in fines for failing to keep proper records of their activities as they enjoy special tax and incentives.

Amendments to the Special Economic Zones Act that were done in December via the Business Laws Amendment Act 2024, have seen the fine for improper reporting go up to Sh5 million from Sh300,000 previously.

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