Browsing: Covid-19 effect on businesses

In Kenya, businesses are condemning the high cost of doing business, amidst the economic challenges brought about by the COVID-19 pandemic.

Through the Kenya Association of Manufacturers, business owners have expressed concern on the current focus on politics without practical solutions to bring local businesses back on the recovery track

The Association’s Chairman, Mucai Kunyiha, raised concerns on the severity of the additional taxes imposed on businesses in addition to inflation adjustment on specific rates of duty.

“It is becoming more expensive to operate in Kenya due to the introduction of taxes, fees, levies and charges,” he said.

Kunyiha pointed out the Crop (Nuts and Oil Crops) Regulations 2020 which introduced new fees and levies as a measure to control thirteen (13) scheduled crops.

“Through the 2021 Finance Act, the government has introduced excise tax on raw materials and 16 percent VAT on the supply of some products, effectively increasing …