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Cost of décor to go up over new taxes

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The cost of decor is likely to go up due to an increased duty on raw materials used to make furniture products from 25% to 35% under the Common Externa Tariff (CET).

The duty, which came into effect at the beginning of this month, affects goods coming out of the East Africa Community (EAC).

All the EAC partner states settled on 35 percent for the CET on fourth band products, which include furniture, dairy and meat products, cereals, cotton and textiles, iron and steel, edible oils, alcoholic beverages, leather products, fresh-cut flowers, fruits, nuts, sugar and confectionery, coffee, tea, spices, head gears, ceramic products and paints, among others.

The levy to be imposed on imported finished products from non-member states is expected to stimulate local production and industrialisation.

SOURCEBusiness Daily
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