The Kenya Association of Manufacturers has raised concern over the new excise stamps for soft drinks, food supplements, and beauty products expected to take effect on 1st September 2019. The Excisable Goods Management System is the latest structure put up by the revenue authority KRA to fight counterfeit goods and illicit trade of such products.
KAM argues that although the system will fight illicit products in the market, it will increase their operating expenses as well as capital expenditure.
The manufacturing industry players in Kenya have often complained of high operating costs. The sector is important to the economy as it creates jobs and contributes to the national income.
In a statement to media, KAM’s chairman Mr. Sachen Gudka said, “…the Manufacturing sector needs to be in a position to sustainably produce goods and services, whilst creating productive jobs for many in the country.” Mr. Sachen Gudka said that the producers are committed to Kenya’s economic advancement.
