Kenya to Issue Regulations, Guidance Clarifying Trade in SEZs
Kenya will issue guidance for certain imports and plans to simplify tax incentives for companies operating in the country’s special economic zones in upcoming regulations, according to a Jan. 21 report from the Hong Kong Trade Development Council. A draft…
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version of the regulations clarified how tax incentives can be applied to the movement of goods and services within the zones, the report said. The final regulations will “make clear” that no customs import duties will be applied to imports of goods into the zones, “regardless of whether they are for purposes of storage, exhibition, assembly, manufacture, further processing, or re-exporting,” the HKTDC said. No “trade-related restrictions” will be applied to any imports into the zones, the report said, and companies will not be subject to “minimum export requirements,” minimum quotas or “quantitative restrictions” when selling goods that originate in the zone, the report said. The comment period for the regulations ended Jan. 15, and Kenya has not yet released a date for final publication.