Treasury CS Henry Rotich has rescinded the 5% cgt and replaced with 0.3% tax on each transaction. market should be responding positively to this tomorrow....

He is finally back to planet earth, I thought we'd lost him to the aliens forever.

This tax is now understandable.hope market will respond fast.

This is worse than cgt as far as investors are concerned especially when the share prices are declining.cgt focused on gains.the new transaction tax is chargeable on both acquisition and disposal,very thoughtful of rotich as he will still get revenue even in a bear market.

I thought the Capital gains tax on shares traded has been scrapped off and this is witholding tax ama? Capital gains tax of real estate stays

I thought it was just on the Sale. Needs verification.

Its a nice trade off for capital gains tax. Its less confusing and wont bring wrangles.

they have snicked in and added something to be counted as transaction costs.however friendly they may call it,its a tax

I think additional 0.3% on the 1.8%-2.1% commission brokers charge on every transaction brings costs of transactions to 2.1% - 2.4% transactions costs.

So in a full trade cycle, your cost is now between 4.2%-4.8% and not 3.6% - 4.2% as was initially.

This is cheaper compared to total transaction charges of the earlier 3.6% - 4.2% + 5% on gains!

This levy is way better and the Gvt gets a chunk of daily trade volumes of the NSE as income to them

(e.g 0.3% of yesterday 750million) ..not bad. investors not badly off..gvt ok too... brokers pissed off since inorder to capture the levy..all transactions are up for scrutiny

Rotich actually gets 0.6% per transaction becuase both parties will be charged......... ama?