KNCCI welcomes one-month delay to higher cargo tax changes
The Kenya National Chamber of Commerce and Industry has negotiated a one-month delay for new customs benchmark values on consolidated cargo. The agreement also includes a waiver on storage charges for traders affected by the initial directive.
Why it matters
This compromise provides immediate relief to importers and helps stabilize the local business environment by ensuring more predictable tax implementation.
Listen KNCCI President Dr. Erick Rutto/courtesy NAIROBI, Kenya, Jul 29 – The Kenya National Chamber of Commerce and Industry (KNCCI) has welcomed a compromise between traders and the Kenya Revenue Authority (KRA) that will see the customs benchmark value for consolidated cargo rise gradually, giving importers more time to adjust.
The agreement follows consultations between KRA, consolidators, clearing agents and other industry stakeholders over a customs directive prescribing benchmark customs values, commonly referred to as “minimum yield.”
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