East African Community finance ministers have suspended the implementation of new levies on lubricating oils, aluminium bars and active yeast, which are considered high-risk products, and referred the taxation proposal to the regional sectoral committee on customs for further analysis.
The committee on customs is expected to report back to the finance ministers during the next pre-budget consultations meeting in May next year, according to the resolutions of the meeting by the EAC Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI) held in Arusha, Tanzania, from 26-30 May.
