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TBK to provide incentives for value addition
In a scheme to establish unlocking the potential of Kenya tea, the government’s decision to suspend VAT (value-added tax) on tea processed incountry along with several National Treasury-approved incentives is budgeted to expand value-addition in the new year.
Tea factories are to leverage on the incentives to upscale their manufacture of
orthodox teas and value addition at factory level instead of continuing to do bulk tea sales. Orthodox teas, which is currently not saturated compared to the CTC market would enhance earnings for the smallholder tea farmers.
Source: The Star (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
About F&W
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...