Sharp Daily
No Result
View All Result
Tuesday, October 28, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya Association of Manufacturers (KAM) Optimistic About the Finance Bill 2023

David Musau by David Musau
June 15, 2023
in News
Reading Time: 1 min read

The Kenya Association of Manufacturers (KAM) seems optimistic about the Finance Bill 2023, despite many sectors of the Kenyan economy continuing to express their concerns about the proposed bill. While engaging the national assembly department committee on Finance and national planning earlier this month, the association applauded some of the reforms in the bill, citing that they will help promote the country’s manufacturing capacity.

Some of these reforms include:

  • The removal of Section 10 of the Excise Duty Act, which states that “the commissioner may, by notice in the gazette and with the approval of the cabinet secretary, make inflation adjustments on the excise duty rate after considering the circumstances prevailing that year,”
  • Removal of locally acquired loans from the existing 30% interest restriction
  • Removal of locally manufactured plastic products from excise duty According to KAM, this move will reduce the cost of commodities packaged using plastics as production costs will decrease.

Read: Proposed Tax Reforms in The Finance Bill 2023

However, in contrast, the association also expressed concerns over some of the reforms in the manufacturing sector, citing that if passed, the bill would make Kenya an unattractive trade destination. The bill proposes introducing taxes on imported raw materials, such as a 10% levy on imported clinker, which is used in cement production, and a 10% export duty on imported kraft used in packaging staple foods. These, among other reforms, will be a major blow to the state of locally manufactured products as compared to imported products.

RELATEDPOSTS

Rironi–Mau summit expressway: Kenya’s game changer for transport and regional growth

October 27, 2025

Kenya 2025: Diaspora remittances drive growth

October 23, 2025

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Revitalizing Kenya’s Manufacturing Sector: A Solution to the Counterfeit Menace

Next Post

Special Economic Zones in Kenya

David Musau

David Musau

Related Posts

News

Eastern Africa’s unified spectrum strategy to boost broadband

October 27, 2025
News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025

LATEST STORIES

How regular investing builds lasting wealth

October 28, 2025

The Importance of Investing in the Cytonn Money Market Fund

October 28, 2025

How the Cytonn Money Market Fund can help farmers grow their income safely

October 27, 2025

Why the cytonn money market fund remains a reliable choice for low-risk investors

October 28, 2025

Why liquidity and safety define smart investing

October 27, 2025

Eastern Africa’s unified spectrum strategy to boost broadband

October 27, 2025

CBK’s KES 76.5 bn bond buyback eases Kenya’s domestic debt pressures

October 27, 2025

Rironi–Mau summit expressway: Kenya’s game changer for transport and regional growth

October 27, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024