President of the Republic of Kenya Uhuru Kenyatta has witnessed the reading of this year’s budget but many are not happy with it. We have not seen a lot of changes really, the cost of living has gone higher if anything.
Anyway, this time round Uhuru Kenyatta’s gava has not spared women. Henry Rotich the Treasury CS said that all cosmetics will go up by 10%. So if you were used to buying signature lipstick at Sh50, you will now buy it at Sh55. In today’s budget, here is what was said;
“Cosmetics and beauty products are not currently subject to the excise duty.
These products are subject to excise duty in some Countries in the East African Community. In
In order to help to move towards the harmonization of the excise duty regime in the EAC, I propose to introduce excise duty on cosmetics and beauty products at the rate of 10%. I also expect that other excise duties take effect beginning July 1, 2016 as provided for by the law.”