Nairobi — Businesses setting up shop in Homa Bay County will enjoy preferential treatments such as lower taxes following the gazettement of the first Special Economic Zone (SEZ) in the area.
The 532-acre SEZ in Riwa in West Karachuonyo was awarded status by Investments, Trade, and Industry Cabinet Secretary Rebecca Miano.
It now becomes the first SEZ in the Western region of Kenya, opening a plethora of business, value-added, job, and growth opportunities in the region.
Firms operating under the SEZ framework are not required to register for value-added tax (VAT), according to PricewaterhouseCoopers.
Likewise, the supply of goods or taxable services to them is subject to zero VAT.
“First off, we have the Riwa Special Economic Zone, the only SEZ in the Western and Lake Region,” Miano said on her X page.
“It comes with attractive tax incentives and value propositions.”