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Capital gains tax??
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heri
#1 Posted : Tuesday, June 11, 2013 8:25:16 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
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
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
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
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
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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Joined: 7/21/2010
Posts: 6,194
Location: nairobi
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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Joined: 6/14/2010
Posts: 521
Location: Nairobi
If it ever existed , why was it removed?
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guru267
#6 Posted : Tuesday, June 11, 2013 10:38:48 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
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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  | | Edit by user: Tuesday, June 11, 2013 10:40 AM | Reason: Not specified
the deal
#7 Posted : Tuesday, June 11, 2013 10:55:43 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
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
Rank: Member

Joined: 4/25/2008
Posts: 192
Location: Nairobi
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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Joined: 9/14/2011
Posts: 869
Location: nairobi
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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Joined: 9/12/2006
Posts: 1,554
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