Kenyan Traders Run Into Billions Of Losses As KRA Destroys Goods Sold Illegally
A section of Kenyan traders has run into billions of losses after the Kenya Revenue Authority in conjunction with various agencies destroyed goods valued at Sh 1.5 billion which were being sold illegally.
The multi-agency team led by KRA destroyed the goods within Nairobi which were being sold contrary to regulations provided for under the Excise Duty Act.
The taxman said that the goods could lead to losses of more than Sh 400 million in tax revenues.
“Today’s destruction exercise marks a significant milestone in the fight against illicit trade and contraband goods in the country. It underscores the government’s determination and keenness to annihilate the vices of illicit trade and contraband goods,” added KRA.
The taxman said that the presence of illegal goods not only poses unfair competition to legally traded products but also pose potential health hazards to unsuspecting consumers.
“Illicit trade and contraband goods are also detrimental to the economic muscle of any country as they lead to massive loss of government revenue through tax evasion,” the agency said.
Some of the goods destroyed include 25,070 bottles of beer, 102,004 bottles of wine spirits packed in 82,538 bottles and 104,786 bottles of juice.
Also destroyed was an assortment of machinery used in the production of some goods, 93, 670 bottles of water, 60, 000 fake excise stamps and 6, 450 packets of cigarettes, cigars, cigarillos, and shisha packed in 50 packets, were also destroyed in the exercise.
Some of the agency which liaised with KRA in the exercise include; Office of the President, Ministry of Interior and Coordination of National Government, Kenya Bureau of Standards (Kebs), Anti-Counterfeit Agency (ACA), NACADA and the Department of Public Health.
Featured Image Courtesy: Capitalfm.co.ke
