Category: importers
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Why importers face losses on KRA impasse with insurers
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Importers face the risk of higher storage costs as thousands of shipments are delayed due to disputes between the Kenya Revenue Authority and insurance companies over new fees imposed on the system used to process customs bond insurance. Customs bond insurance is a guarantee to the Kenya Revenue Authority that…
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Brexit Checks Could Inflate UK Food Import Costs by Up to 60%, Warn Importers
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UK food importers are sounding the alarm over post-Brexit checks, warning of potential cost increases of up to 60%, which could lead to higher prices for consumers and pose existential threats to some businesses. After five previous delays, the UK government implemented physical checks on animal and plant products coming…