News in brief
Kenya lowers cosmetics tax to encourage women to be beautiful
The Kenyan government has decided to lower the rate of tax on cosmetics products as a means of encouraging women to take care of their appearance.
In the annual budget speech for 2010 – 2011 given by the minister of finance Uhuru Muigai Kenyatta, it was announced that the rate of excise duty on cosmetics and skin care products would be reduced from 10 per cent to 5 per cent.
In his speech Kenyatta said that the move was “in the recognition that beautiful women are the face of a healthy society.”
The minister also proposed to remove excise duty on jewellery products as a means of making these products more accessible to Kenyan women, ‘and even men’.
The Kenyan market for cosmetics has enjoyed strong growth in recent years, particularly among more affluent consumers who buy up the more expensive international brands that dominate store shelves.