The Kenya Revenue Authority has announced that it will accredit more imports and exempt their items from full inspection at the port of entry in order to enhance manufacturing, improve port efficiency, and increase revenue collection. Beneficiaries who come under the category of permitted operations must be identified by the accreditation.
The KRA is determined to increase the number of authorizing economic operations (AEOs) from 325 to at least 50 percent of the import sector in order to promote revenue collection and foster a business-friendly environment in the country.
KRA believes it will exceed its goal and is encouraging more enterprises to register for AEO in order to reduce the cost of doing business for both manufacturers and traders.
The category is a component of global customs administration systems that oversee the authorized activities to facilitate commerce, such as accelerated product clearance and the reduction of verification rate tips that inhibit passage.
In order to qualify for the AEO classification, the company must be tax compliant, with KRA verifying their finances as part of their verification routine, and they must have complied with the customs process for at least six months.
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