Recent photo courtesy of Babu Owino;
Embakasi East MP Babu Owino has criticized the Financial Bill proposed by President William Ruto’s administration for 2023, stating that it will overburden Kenyans who are already struggling with the high cost of living. He singled out concerns regarding plans to tax beauty and cosmetic products, including wigs, weaves, fake eyelashes, and beards, stating that the move would harm the tourism industry.
Babu stated that Kenyan women, who are the primary consumers of these products and a major tourist attraction, would be affected. He added that the country could lose billions of dollars as a result of making these products expensive for Kenyan ladies. The MP criticized Ruto’s administration, stating that they have failed to tax only Oxygen, and everything else is being taxed, including food, clothes, education, medicines, and housing.
Photo courtesy of Babu Owino having romantic fun;
The proposed taxation would also harm the beauty industry, which is set to see a rise in excise stamp charges for beauty and cosmetic products from Sh0.6 to Sh2.5 per stamp, a 316 percent increase.
The Kenya Revenue Authority (KRA) intends to roll out excise stamps for the products starting on July 1 as contained in the Excise Duty (Excusable Goods Management System- EGMS) (Amendment) Regulations, 2023, that was published early in the year.
Official data show the industry has grown by over Sh10 billion over the past decade as more Kenyans embrace the use of makeup and other beauty products.
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