President William Ruto’s first-ever Cabinet meeting passed a resolution that gave blessings to an importation deal that has seen private firms import oil tax-free, then sell the commodity to a government agency at a higher price, an NTV investigation has revealed. The simple anatomy of the scheme is: A need is created to import oil tax-free. Then somehow, private firms get to import the oil, rather than have a government agency do that. We have obtained a circular from Treasury Cabinet Secretary Njuguna Ndung’u to the KRA that approved the duty-free importation. The Kenya Revenue Authority memo states: “The remissions and exemptions office shall facilitate the issuance of an exemption code to exempt 100 per cent import duty.

Source: Daily Nation June 19, 2023 15:55 UTC