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KRA blamed for low marine cargo insurance uptake

By Lee Mwiti | Published Wed, August 2nd 2017 at 00:00, Updated August 1st 2017 at 22:23 GMT +3
KRA headquarters at Times Towers in Nairobi (Photo: Courtesy)

SUMMARY

KRA blamed for low marine cargo insurance uptake

Six months after the coming into force of a law making it compulsory for importers to insure cargo with local underwriters, insurance firms say they have derived little benefit from it.

CIC Group Chief Executive Tom Gitogo (above) blamed Kenya Revenue Authority for the slow growth in the marine insurance segment, saying the taxman took too long to come up with proper structures and systems to ensure that cargo importers complied.

ALSO READ: Job losses and huge tax breaks slips away KRA target


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