As a trader,It is important that you understand the county’s trade policy as this will assist you to align your import and export plans/operations with the opportunities created.The government has introduced a number of incentives to encourage traders to engage in
international trade which you as an importer or exporter could take advantage of. These include;

Duty drawback
This is provided for goods imported for the manufacture of goods which are to be Exported,Transferred to a free port or Transferred to an Export Processing Zone.To claim duty drawback one needs to obtain authorization from the Commissioner of Customs before you begin manufacturing.Additionally, the goods must be a direct result of the imported goods used in their manufacture you will also need to present the goods destined for export for examination and ensure you present the claim for drawback within a period of 12 months from the date
of exportation of the goods.
2. Manufacture Under Bond (MUB)
This facility allows manufacturers to import plant,machinery, equipment and raw materials tax free, for exclusive use in the manufacture of goods for export. You will require a licence from the Commissioner of Customs to operate a bonded factory.
3.Tax Remission for Exports Office (TREO) Scheme
The TREO scheme aims at encouraging local manufacturers to export their products by remitting duty and VAT on raw materials used in the manufacture of goods for export and on inputs to make goods defined as essential for the domestic market.It grants;
• Remission of import duty on inputs
• Exemption of IDF fees on inputs except for payment of processing fee of Kshs. 5,000
• Remission of VAT on inputs
• Remission of excise duty on fuel oil and kerosene.Application is facilitated by The Kenya Association of Manufacturers which is administered by the Ministry of Finance

Export Processing Zones (EPZ)
The aim of the project is to promote export oriented industrial investment within designated areas. EPZ investors are entitled to attractive fiscal incentives, simplified operating procedures and physical infrastructure benefits.
4.Trade Agreements
Kenya is a signatory to bilateral, regional and international trade agreements that aim at facilitating and increasing trade. The agreements provide certain preferential treatment that you as a Kenyan stand to benefit from as you carry out your business. You should therefore try to
keep yourself updated about these agreements and find out what opportunities they provide to your business.
5. Regional Trade Agreements
Kenya is a member of the EAC and COMESA trade agreements within the African Region.Membership entails extending preferential tariffs to goods imported from member states subject to agreed conditions (the Rules of Origin). Goods originating in Kenya also enter into the other
member countries at preferential rates. This provides an incentive to import from or export to other countries in the regional trading bloc.
6.East African Community
The East African Community Treaty stipulates that Kenyan goods enter the member countries at preferential tariffs while similar treatment is given to goods imported from EAC member states. The EAC countries are Kenya’s largest buyers.

Kenya

MARRIAGE AND SUCCESSION LAWS IN KENYA

Related Articles