There were murmurs of disapproval in Parliament as Treasury CS Henry Rotich announced a 10 per cent increased tax on cosmetics. "Cosmetics and beauty products are not currently subject to Excise Duty. Rotich reduced corporate tax from 30 per cent to 20 per cent for housing developers who build at least 1,000 low-cost houses annually. These products are subject to Excise Duty in some countries in the East African Community. In order to help to move towards the harmonisation of the Excise Duty regime in the EAC, I propose to introduce Excise Duty on cosmetics and beauty products at the rate of 10 per cent," the CS told MPs.

Source: The Star June 09, 2016 01:30 UTC