Abacus Wealth Management

Price of Imported Goods May Go Down

Consumers may soon pay less for imported goods following a move by the Kenya Revenue Authority (KRA) which will allow importers to move their goods without having to stop for inspection.  The Authority reports that the initiative will save time and money for importers, bringing down the cost of goods that have travelled by such means.

According to Deputy Commissioner of Customs, Jonathan Cheruiyot, the new system will reduce the expense of importing goods by more than half. He said that the move will also save time because it will allow importers to make duty payments when they arrive at their destinations. In addition to this, cargo operators will be able to make payments at any of their preferred authorised locations.

The procedure, dubbed Authorised Economic Operators, applies to importers moving their goods through the ports of Mombasa and Dar es Salaam. It is a cost-free, voluntary system that has already been adopted by more than 60 cargo operators within the country.

Cheruiyot said East African Community member countries will start adopting the system in September this year. The move follows the KRA’s proposal to get rid of road-blocks and weighbridges in a bid to reduce the time spent transporting goods by December 2012.

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