Thursday, June 4, 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

- Advertisement -

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.

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

- Advertisement -

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

Most Popular

Jadon Sancho not to be punished over anti-racism stand

Borussia Dortmund's Jadon Sancho and three others will not be punished over their stand on anti-racism and support in the ongoing riots...

Tottenham Hotspurs confirms one positive case of coronavirus

Tottenham Hotspurs has confirmed one case of coronavirus following tests conducted on both players at staff members at their training ground.

12-year-boy succumbs to coronavirus as Kenya confirms 123 cases

Kenya has confirmed an additional 123 cases of coronavirus bringing the total number of cases in the country to 2,216.

Betty Kyallo buys a new car days after quitting K24

Former KTN and K24 news anchor Betty Kyallo has unveiled her new car barely days after quitting Media Max.