The Kenya Revenue Authority (KRA) has extended the reach of its Electronic Goods Management System (EGMS) in announcing additional products to affix the excise stamp.
KRA is targeting an additional sh,3.6 billion in revenue, annually, from its excise tax requirements. The excise tax are levied on producers and importers to not only boost tax revenue collection but also counter illicit trade.
The new rule will require manufactures in bottled water, juices, soda, energy drinks, other non-alcoholic beverages, food supplements and cosmetics to affix new generation excise stamps from 1st November, 2017.
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Benson Korongo, KRA commissioner for domestic taxes, said, “In order to ensure compliance, licensed manufacturers and registered importers of the affected products are advised to facilitate KRA technical teams to access the production lines for purposes of determining the installation requirements.”
The stamp allows consumers to verify authenticity of a product using their smartphones, Already, these rules cover tobacco products and alcoholic beverages.