Kenya hits Coca-Cola with excise tax
Coca-Cola's Kenyan operations have received a hard knock with a ruling from the Revenue Authority that will force the company to pay excise tax on costs incurred washing and sanitizing returned soda bottles.
Coca-Cola will likely pass this cost increase onto consumers, which will have a significant negative impact on the company's local sales. What is even worse for the company is that this ruling comes soon after its decision to invest $50USmn in expanding and upscaling its Kenyan bottling facilities.
Article courtesy Packaging Digest
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