President William Ruto has ordered the reduction of the minimum customs benchmark for general containerized consolidated cargo from the new cap of Ksh3.2 million to the old cap of Ksh2.5 million.

🇰🇪 Breaking It Down

While speaking at the State House on Wednesday, while hosting Micro, Small, and Medium Enterprise (MSME) traders, Ruto stated that the move is aimed at cushioning these traders from business shocks.

He has further ordered the Kenya Revenue Authority (KRA) to come up with a list of high-value items that do not qualify for consolidation to be exempted from the Ksh2.5 million cap.

These goods will be evaluated independently from the consolidated cargo.

📌 What You Need to Know

"Mr Commissioner General, create a list of the high-value goods and share it with these traders," Ruto directed.

According to President Ruto, it did not make sense for a container containing goods worth millions to pay cargo prices worth less, and by that he believes that traders will not be playing their part in fair tax payment and ultimate nation building.

📰 Source: Kenyans.co.ke