Connect with us

Business

KRA Targets Sh1.6 Billion From Soda And Water Sales

Published

on

[Image | Courtesy]

The Kenya Revenue Authority (KRA)now  expects to collect over Sh1.6 billion revenue from bottled soda and water sales before the financial year ends almost half the Sh3.6 billion the taxman had earlier anticipated.

Delayed rollout of the excise tax management system for bottled water, soda and juices will see the State forego more than Sh1.6 billion, even as the taxman expressed confidence in the implementation.

Enforcement will start in January.

This new system will require manufacturers affix new generation excise stamps on bottled water, juices, soda, energy drinks, non-alcoholic beverages, food supplements and cosmetics. This means the firms will have installed an automated stamp-fixing system and will be making real-time data transmission to the KRA.

Advertisement

About 175 out of the target 400 companies producing bottled water and juices have so far complied.


Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Related Content:  Tuskys Has Run Out Of Cash, Jittery Suppliers Turn To State For Intervention To Avoid Another Uchumi, Nakumatt Run Down
Advertisement
Advertisement
Advertisement

Facebook

Most Popular