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Capital gains tax??
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heri
#1 Posted : Tuesday, June 11, 2013 8:25:16 AM
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Anyone know how much the other East African countries charge as capital gains tax?

just in case it gets introduced in Kenya
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dunkang
#2 Posted : Tuesday, June 11, 2013 8:47:05 AM
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heri wrote:
Anyone know how much the other East African countries charge as capital gains tax?

just in case it gets introduced in Kenya

I was watching that news item by PKF yesternight and could not understand whether the GoK can dare re-introduce it in Stocks trading, if it was ever there?
Receive with simplicity everything that happens to you.” ― Rashi

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guru267
#3 Posted : Tuesday, June 11, 2013 10:12:42 AM
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I knew the return of Capital gains tax was inevitable since judging by the growth in the size of the budget deficit.

According to the report this tax can raise $4bn - $6bn per annum... That translates to 300-500billion shillings a year!

Trust me this one is coming and it is likely to trouble at the NSE. All those foreign speculators will run for the hills before it can be implemented Sad
Mark 12:29
Deuteronomy 4:16
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mlennyma
#4 Posted : Tuesday, June 11, 2013 10:20:21 AM
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It doesnt spare either whether you are selling at a loss or profit.nkt
"Don't let the fear of losing be greater than the excitement of winning."
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The optimist
#5 Posted : Tuesday, June 11, 2013 10:32:42 AM
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If it ever existed , why was it removed?
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guru267
#6 Posted : Tuesday, June 11, 2013 10:38:48 AM
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mlennyma wrote:
It doesnt spare either whether you are selling at a loss or profit.nkt


Mboss it is called capital GAINS tax.. This means only gains are taxed!


The optimist wrote:
If it ever existed , why was it removed?


It was removed in the 1980s to promote investment in Kenya!
Mark 12:29
Deuteronomy 4:16
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the deal
#7 Posted : Tuesday, June 11, 2013 10:55:43 AM
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Location: Windhoek/Nairobbery
guru267 wrote:
mlennyma wrote:
It doesnt spare either whether you are selling at a loss or profit.nkt


Mboss it is called capital GAINS tax.. This means only gains are taxed!


Laughing out loudly Laughing out loudly Laughing out loudly nice one @Guru
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milken
#8 Posted : Tuesday, June 11, 2013 11:03:46 AM
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Capital gains tax still exists on corporations when such gains are distributed to shareholders. That is the rationale behind a dividend tax account when computing corporate tax.
Unless the holdings in NSE are dominated by individuals and not corporates, it will not have a significant effect on trading.
I beg accountants to comment
Itari muting'oe ihuragwo ngi ni Ngai
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heri
#9 Posted : Tuesday, June 11, 2013 11:22:20 AM
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Assuming its introduced, what would be the rate?

What is the rate in Uganda and Tanzania?

This can help us assess impact on shares trading returns
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Jamani
#10 Posted : Tuesday, June 11, 2013 11:34:57 AM
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maka
#11 Posted : Tuesday, June 11, 2013 11:36:18 AM
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the deal wrote:
guru267 wrote:
mlennyma wrote:
It doesnt spare either whether you are selling at a loss or profit.nkt


Mboss it is called capital GAINS tax.. This means only gains are taxed!


Laughing out loudly Laughing out loudly Laughing out loudly nice one @Guru

They will probably introduce a revised version of it and introduce some other charges on the side on a sliding scale just like for every £10000 pounds invested on the LSE a small sum goes to the PTM levy (£1)...there is no option capital gains tax has to be introduced...
possunt quia posse videntur
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The optimist
#12 Posted : Tuesday, June 11, 2013 11:55:01 AM
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Jamani wrote:
According to http://www.globalpropert...ganda/capital-gains-tax
Ug 30%
Tz20%
Pray Pray Hii kitu wasilete. A whole 30%! That's another PAYE for sure!
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maka
#13 Posted : Tuesday, June 11, 2013 12:27:03 PM
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The optimist wrote:
Jamani wrote:
According to http://www.globalpropert...ganda/capital-gains-tax
Ug 30%
Tz20%
Pray Pray Hii kitu wasilete. A whole 30%! That's another PAYE for sure!

read more here... www.wazua.co.ke/forum.aspx?g=posts&m=328743
possunt quia posse videntur
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mlennyma
#14 Posted : Tuesday, June 11, 2013 12:45:08 PM
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Just asking,if i buy some shares and the price dips,does it mean upon selling at a loss i will be tax exempt?..does this mean someone will be tracking buying and selling prices?
"Don't let the fear of losing be greater than the excitement of winning."
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guru267
#15 Posted : Tuesday, June 11, 2013 1:02:09 PM
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mlennyma wrote:
Just asking,if i buy some shares and the price dips,does it mean upon selling at a loss i will be tax exempt?..does this mean someone will be tracking buying and selling prices?


Mboss there will be guys tracking your buy and sale price or you might have to register the returns on your own.

If you sell at a loss you might qualify for a tax refund.

This tax is usually only applicable for assets held for more than 12 months!
Mark 12:29
Deuteronomy 4:16
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mlennyma
#16 Posted : Tuesday, June 11, 2013 1:34:37 PM
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1-11months means speculators can play safe in the nse avoiding the tax.
"Don't let the fear of losing be greater than the excitement of winning."
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mwekez@ji
#17 Posted : Tuesday, June 11, 2013 5:45:47 PM
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Joined: 5/31/2011
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guru267 wrote:
... This tax is usually only applicable for assets held for more than 12 months!


if so, we will avoid this tax by churning our portfolio withing every 12 months
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guru267
#18 Posted : Tuesday, June 11, 2013 6:30:01 PM
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mwekez@ji wrote:
guru267 wrote:
... This tax is usually only applicable for assets held for more than 12 months!


if so, we will avoid this tax by churning our portfolio withing every 12 months


I'm waiting to see how GOK will structure this one! They have to maintain investor interest no matter what they do otherwise they will set us back 2 decades!!
Mark 12:29
Deuteronomy 4:16
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MatataMingi
#19 Posted : Wednesday, June 12, 2013 9:11:05 AM
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Will this apply to real estate also.
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dunkang
#20 Posted : Wednesday, June 12, 2013 9:18:02 AM
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MatataMingi wrote:
Will this apply to real estate also.

Actually, the main target should be real estate.

But this thing is demoralizing.
Receive with simplicity everything that happens to you.” ― Rashi

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