East African states rush to impose new taxes on imported goods

Tax.

East African states agreed to set a maximum tax of 35pc for finished imports. PHOTO | FILE

Following the May 5 decision by East African Community Finance ministers to adopt a 35 percent rate for the fourth band of the region’s common external tariff (CET), member countries are working to identify, review and impose new taxes on imported goods to protect local industries.

The new tax whose implementation starts from July 1 will affect commodities such as iron, steel, dairy and meat products.