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The Capital Gains Tax

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jerry		#51 Posted : Monday, September 15, 2014 7:57:00 PM
Rank: Elder Joined: 9/29/2006 Posts: 2,570		Mainat wrote: I would be surprised if our CGT doesn't match our neighbours i.e. 20-30% before 2017. We are like frogs in a sufuria. Temperature is now set at 5 degrees It's now law: http://www.businessdaily.../-/fx4u2rz/-/index.html "I think given the fact that it is optically such a low number, and keeps Kenya at the bottom of capital gains tax... we'll look through this and move on," said Aly Khan Satchu, independent analyst. "If ... they are thinking of putting it higher, then I think we are in a little different situation." The opposite of courage is not cowardice, it's conformity.
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sizzla		#52 Posted : Tuesday, September 16, 2014 7:25:28 AM
Rank: Member Joined: 6/10/2006 Posts: 201 Location: Nairobi		5% similar to withholding tax....not too bad.
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whiteowl		#53 Posted : Sunday, September 21, 2014 11:18:07 AM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		How will CGT on shares be remitted? By stock brokers?
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jerry		#54 Posted : Sunday, September 21, 2014 11:33:07 AM
Rank: Elder Joined: 9/29/2006 Posts: 2,570		sizzla wrote: 5% similar to withholding tax....not too bad. It's also tax on "gains". So it's true not much! but it can be increased later to 10%. The opposite of courage is not cowardice, it's conformity.
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target1360		#55 Posted : Sunday, September 21, 2014 3:14:18 PM
Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi		if i had bought britam at sh5, is it advisable to sell at sh 30 to avoid taxation of my sh25 profit? Then one can buy again around jan so that earlier accrued profits are not taxed. but maybe the transaction costs even this out. #hesabungumu I find satisfaction in owning great business,not trading them
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whiteowl		#56 Posted : Sunday, September 21, 2014 4:41:29 PM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		target1360 wrote: if i had bought britam at sh5, is it advisable to sell at sh 30 to avoid taxation of my sh25 profit? Then one can buy again around jan so that earlier accrued profits are not taxed. but maybe the transaction costs even this out. #hesabungumu The 5% CGT is almost negligible but when/if it's increased to 10/20/30% that's when you'll start doing your maths and the index will be heading south.
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dunkang		#57 Posted : Wednesday, October 01, 2014 4:54:13 PM
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831		Can we say that this CGT thing is for real. I can see ex-President Kibaki has disposed off his building mapema mapema. Mwai Kibaki Sells Nairobi Building Receive with simplicity everything that happens to you.” ― Rashi
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whiteowl		#58 Posted : Wednesday, October 01, 2014 8:07:48 PM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		dunkang wrote: Can we say that this CGT thing is for real. I can see ex-President Kibaki has disposed off his building mapema mapema. Mwai Kibaki Sells Nairobi Building Nice move economist no.1. we'll follow your lead
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jawgey		#59 Posted : Wednesday, October 01, 2014 8:13:26 PM
Rank: Member Joined: 1/13/2014 Posts: 398 Location: Denmark		dunkang wrote: Can we say that this CGT thing is for real. I can see ex-President Kibaki has disposed off his building mapema mapema. Mwai Kibaki Sells Nairobi Building haha that's the first thing I thought of when I read that piece .. Let's brace thyself for CGT. Seeing is believing
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muganda		#60 Posted : Thursday, October 02, 2014 11:39:54 AM
Rank: Elder Joined: 9/15/2006 Posts: 3,907		Following some Wazua tweets; very good updates from @RobertYawe who's attending a PKF Capital Gains Tax seminar. Some scary... 1. KRA has decided to challenge the definition of the words "avoidance" & "evasion" by indicating that they are similar @wazua 2. @wazua shares traded on the NSE by an individual are exempt from CGT therefore those Chama's are in trouble 3. @wazua Rural agricultural land of less than 100 acres is exempt from CGT so those subdivision experts are in the clear 4. @wazua individuals who have lived in a property for more than 3 years before disposal are exempt from CGT
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