PwC has commended the Kenya Revenue Authority (KRA) for lifting restrictions on warehousing of goods in Customs bonded warehouses, noting that the action will enhance the competitiveness of Kenya as a global and regional logistics hub.
PWC said the policy will also boost to businesses that utilise Customs bonded warehouses to store goods, defer payment of duties and are involved in regional trade. It however called for consistency in tax law.
“We expect that with Customs having lifted restrictions on warehousing of goods will help contribute to the State’s agenda of reviving the economy in light of the ravages of Covid-19, improve cash flow and stock management for businesses,” said Indirect Taxes Associate Director at PwC Kenya Maurice Mwaniki.
“We expect this will once again enhance the competitiveness of Kenya as a global and regional logistics hub and assist attract inward investment into Kenya.”
PWC
Kenya Revenue Authority
