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Rank: Member Joined: 7/11/2009 Posts: 11
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The report seems correct. Actuall, the figures for PAT are correct for Equity and KCB. The difference is the tax for that year. Remember institutions that are listed in the NSE get to enjoy corporation tax rate @20% for five years instead of the normal 30% and that is where equity benefited since its less than five years since they listed.
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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kir wrote:The report seems correct. Actuall, the figures for PAT are correct for Equity and KCB. The difference is the tax for that year. Remember institutions that are listed in the NSE get to enjoy corporation tax rate @20% for five years instead of the normal 30% and that is where equity benefited since its less than five years since they listed. so kcb isnt listed on the nse?
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Rank: Member Joined: 7/11/2009 Posts: 11
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I mean the first time the institution goes public either through an IPO or placing,then they enjoy that benefit for five years before it reverts back to the normal rate. Its an incentive to encourage companies to go public.
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Rank: Veteran Joined: 8/11/2010 Posts: 1,011 Location: nairobi
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kizee1 wrote:kir wrote:The report seems correct. Actuall, the figures for PAT are correct for Equity and KCB. The difference is the tax for that year. Remember institutions that are listed in the NSE get to enjoy corporation tax rate @20% for five years instead of the normal 30% and that is where equity benefited since its less than five years since they listed. so kcb isnt listed on the nse? kcb listed more than 5 years ago whereas equity listed just 3 years ago which is bellow 5 years
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Rank: Member Joined: 7/11/2009 Posts: 11
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Thats why equity are enjoying the benefit
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