Kenya has initiated the implementation of tax incentives for foreign investors who establish projects exceeding 10 billion shillings (approximately 65.5 million U.S. dollars).
Abubakar Hassan, the principal secretary in the Ministry of Investments, Trade, and Industry, announced the introduction of tailored incentives during a trade forum in Nairobi. These incentives specifically target companies engaged in manufacturing activities, aiming to bolster Kenya’s industrial sector.
Under the new fiscal regime, qualifying firms will benefit from reduced tax rates on excise, import duty, and value-added taxes, pending approval from the National Treasury.
Furthermore, eligible investors will be exempt from taxes on imported or locally purchased services, as outlined by Hassan during the Diamond Trust Bank economic and sustainability forum.
