{"id":3282,"date":"2024-06-08T08:41:03","date_gmt":"2024-06-08T08:41:03","guid":{"rendered":"https:\/\/tandaomedia.co.ke\/?p=3282"},"modified":"2024-06-08T08:41:06","modified_gmt":"2024-06-08T08:41:06","slug":"opposition-on-the-finance-bill-2024","status":"publish","type":"post","link":"https:\/\/tandaomedia.co.ke\/index.php\/2024\/06\/08\/opposition-on-the-finance-bill-2024\/","title":{"rendered":"OPPOSITION ON THE FINANCE BILL 2024"},"content":{"rendered":"\n

Benmike Wekesa<\/strong><\/p>\n\n\n\n

Directors of the American beverage manufacturing and distribution company Coca-Cola want the proposed 10% tax on locally manufactured plastics removed from the Finance Bill 2024.<\/p>\n\n\n

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Additionally, the directors of the American beverage giant have labeled the newly introduced Eco Levy as double taxation for essential industry players.<\/p>\n\n\n\n

Telecommunication and internet service distributors, led by Safaricom and Airtel, along with Tespo, warned of potential internet distribution disruptions due to the high operational costs arising from the proposed increase in digital tax.<\/p>\n\n\n\n

The eco levy tax is expected to lead to : <\/p>\n\n\n\n

  FINANCIAL IMPACT OVERVIEW<\/p>\n\n\n\n

  1.Increased Costs for Beverage Companies<\/p>\n\n\n\n

  2. Double Taxation Concerns<\/p>\n\n\n\n

  3.Higher Operational Costs for Telecoms<\/p>\n\n\n\n

  4. Increased Costs in Packaging Industry<\/p>\n\n\n\n

Stakeholders in the packaging industry, represented by the Packaging Producer Responsibility Organization, also opposed the Eco Levy, stating that it would increase operational costs that would be passed on to the primary consumers.<\/p>\n\n\n\n

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