Illicit trade costs economy Ksh 200B in lost tax revenue – KBC

Destruction of illicit goods costs taxpayers between 80 to 100 shillings per kilo besides causing environmental degradation.

This emerged Monday as the Multi-Agency Anti-Illicit Trade Outreach destroyed illicit goods worth 10 million shillings comprising condemned rice and assorted counterfeit shoes, stationery, beauty products and tonners at the Bamburi Cement Factory Incinerator in Mombasa.

The Multi-Agency Anti-Illicit Trade Outreach team was constituted in May last year to coordinate the fight against contraband goods.

Since then, over 8 billion shillings worth of illicit goods across the country have been seized through the multi-agency efforts.

Noting that illicit trade costs the economy about 200 billion shillings in lost tax revenue, Trade Principal Secretary Dr. Chris Kiptoo warned economic saboteurs that Kenya will not condone trade in illegal goods.

It also emerged that destruction of illicit goods is done at environmental and economic costs of between 80 and 100 shillings per kilo.

They urged Kenyans to be on the lookout and report suspicious goods to authorities.