Kenyan Gov't Moves To Reduce Prices Of Basic Commodities
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Kenyan Gov't Moves To Reduce Prices Of Basic Commodities

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Added by Headlines Africa in Kenya


In Kenya, the Treasury secretary has waived import duty on white maize and removed Value Added Tax on processed flour to reduce prices of basic commodities. Cabinet Secretary Henry Rotich's tax interventions meant to counter rising inflation and intervene on crisis as a result of ravaging drought. He warned millers and bread manufacturers of a reversal should they fail to pass the benefits to the consumers. The government has also proposed to raid betting, lottery, gaming and competition firms with a heavy 50 per cent tax for all categories. The proceeds, according to the budget plan, will be put in the newly created National Sports, Culture and Arts Fund to support development of sports, culture and arts in Kenya. Betting has been on the rise in Kenya with firm making colossal profits on enthusiasts eager to make quick money from the jackpots.

Tags: Kenya, Economic

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