Billions of shilings lost to counterfeits
06 February 2013, 15:50
Assistant Director of Anti - counterfeits Agency Kenya (ACA ) Agnes Karingu has said that the government is losing billions of shillings annually through counterfeit products that enter the country illegally.
The director regretted that tax evaders have also contributed largely in depriving the country of tax revenue.
While addressing stakeholders in Nakuru town on Tuesday during a one day forum, Karingu said that many businesses had ended up being closed down due to stocking of fake products which are manufactured by scrupulous people.
“Many big companies have been forced to close down since most of their products are fake leading to unhealthy competition which does not help anyone at the end of the day,” noted the the Director.
Agnes pointed out that the economy of Kenya will only grow if business men and women pay taxes as outlined by the law.
She further said the government was working on new measures to curb the counterfeit products which are manufactured both locally and internationally.
The ACA assistant director however urged the business community to work closely with the agency to help fight against counterfeit products in the country.
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