Friday, 4 April, 2025
Finance Committee engages stakeholders on excise duty (Amendment) Bill, 2025๐๐ฎ๐ง๐ ๐ ๐๐จ๐ฐ๐๐ซ๐๐ก๐ฎ๐ซ๐ฌ๐๐๐ฒ, ๐๐ฉ๐ซ๐ข๐ฅ ๐, ๐๐๐๐
The Departmental Committee on Finance and National Planning this morning convened a stakeholdersโ forum to collate views on the Excise Duty (Amendment) Bill 2025.
Introduced by Hon. Kimani Ichungโwah on March 6, 2025, the Bill seeks to address issues resulting from a 25 per cent excise duty on imported electric transformers and parts, imposed by the Tax Laws (Amendment) Act of 2024.
The provisions of the current Bill aimed to support local assemblers but inadvertently ended up increasing costs for manufacturers reliant on these imports.
The Excise Duty (Amendment) Bill, 2025, now seeks to correct this unintended consequence. The proposed law is intended to adjust the law to make the tax fairer, while supporting local assembly efforts and manufacturers dependent on imported transformer parts for their businesses.
This move will help avoid further strain on industries already facing increased costs.
According to the Chairperson, Hon. Kimani Kuria, the Committee is committed towards developing a solution that balances the needs of the local assembly plants, and those of manufacturers dependent on global supply chains.