Wazua
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Capital gains tax??
Rank: Elder Joined: 11/7/2007 Posts: 2,182
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real estate there are guys who pay cash but then again there are many loopholes when it comes to avoiding tax in real estate all legitimate by the way LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Given how important land is as investment in Kenya, I see politicians pushing back or delaying this. Hope so anyway Sehemu ndio nyumba
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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guru267 wrote: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  Budget being discussed on KTN sunrise live. Mbadi & Nikhil Hira discussing widening of the tax bracket. Jua Kali sector, rental property and capital gains tax ( property and shares). :(
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Mainat wrote:Given how important land is as investment in Kenya, I see politicians pushing back or delaying this. Hope so anyway That fact will ensure the status quo remains this way for a long time...
With NSE now owned by a large pool of foreigners, you don't want to spook this hot money. That capital flight won't be funny... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 1/21/2013 Posts: 427
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Still under review #KEBudget2013
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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Hot air "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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71. Hon Members, the Government has initiated a review of the Capital gains tax under the Income Tax Act with a view to formulating modalities for its effective enforcement. This will allow wealthier members of our society to also make a token contribution toward our national development agenda.
Deepening Tax Reforms and Enhancing Tax Administration
The above was the Cabinet Secretary's precise statement with regard to the imposition of CGT in Kenya. We have a reprieve for now at least.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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It will depend on the magnititude of the tax...if its 10-15%...add on top 4.1% transaction costs then there is not incentive to invest.
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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Why would anyone assume the hustlers me and you in the market are wealthy pple?we are poor hard working small men. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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the deal wrote:It will depend on the magnititude of the tax...if its 10-15%...add on top 4.1% transaction costs then there is not incentive to invest. You will learn to invest long term... its not like you will have anywhere else to run! Mark 12:29
Deuteronomy 4:16
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