Following the publication of the Excise Duty Excisable Goods Management System Amendment Regulations, 2023, costs for 14 goods, beer and bottled water, will rise as of March 5th.
New revenue stamp costs were released in the rules that Treasury Cabinet Secretary Njuguna Ndung’u gazetted. Bottled water will now have a new exercise stamp costing Ksh0.5 per stamp, while ales, ciders and combinations of fermented drinks will now cost Ksh3 per stamp.
Fruit drinks, cigars, cigarettes, compounded alcohol, electronic cigarettes, liquid nicotine, wines, cosmetics and beautification items were also on the list.
The rules stated, in part, “In the list are products containing nicotine or nicotine substitutes intended for oral application or inhalation without combustion, but excluding medicinal products approved by the Cabinet Secretary responsible for matters relating to health.”
The list also included compounded spirits with an alcohol higher than 6% and boozy drinks with an alcohol up to 6%.
“Paragraph (1) of Regulation 3 of the Excise Duty (Excisable Goods Management System) Regulations, 2017, hereinafter referred to as the main Regulations, is deleted, and the following new paragraph is inserted in its place.
The regulations stated, in part, that “every package of excisable goods manufactured or imported into Kenya listed in the first schedule to the regulations shall be affixed with an excise stamp.”
With a new exercise cost of Ksh5 per stamp, tobacco, cigarettes, and electronic cigarettes were the most negatively impacted by the new charges.
The price per stamp for wines and spirits was also fixed at Ksh5, while Ksh2.2 per stamp will be paid for all other non-alcoholic drinks.
Treasury’s action seeks to assist the government in generating more money to support the budget.By the conclusion of the 2023–24 fiscal year, President William Ruto challenged the taxman to gather Ksh3 trillion.
Read more:https://www.kenyans.co.ke/news/87784-14-products-whose-prices-are-set-increase-april
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