Tuesday, February 18, 2020
Home Business News Companies EABL threatens to raise its prices if Treasury increase tax

EABL threatens to raise its prices if Treasury increase tax

East African Breweries Limited has threatened to increase prices of its products if the Treasury threatens to increase cooperate tax.

Speaking was EABL Managing Director Jane Karuku who said that the increase of cooperate tax from 30to 35 percent would be insane to a company that is already heavy taxed.

- Advertisement -

The treasury is currently planning to increase the taxes from 30 to 35 percent on companies with annual turnover of over 500 million.

Increasing the tax will force EABL to pass the increment to its Tusker product from the current Ksh 160 to Ksh 180.

Ms Jane Karuku spoke on Wednesday citing her fear that the price increment will push low end customers to illicit brews.

She further added that the taxes will make brands expensive, increase cost of doing business and make Kenya lose it competitive edge.

Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Magistrate disqualifies himself from Babu Owino’s case

0
Chief Magistrate Francis Andayi of Milimani Law Court has withdrawn himself from Babu Owino's case. The decision by the...