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Capital Gains Tax on EQUITIES
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tom_boy
#101 Posted : Saturday, January 10, 2015 10:51:22 AM
Rank: Member


Joined: 2/20/2007
Posts: 767
MaichBlack wrote:
S.Mutaga III wrote:
mlennyma wrote:
What annoyed me is mr.rotich's perception that equities are traded by rich pple,he sounded very mis informed and lost.if they cared for the local hustler they could have fixed the tax to apply for a gain exceeding 500k or even 200k

Thats unfair still...the tax should be on a gain exceeding 2 million. Any gain above 2 million would effectively net rich jamaas and foreigners but not Wanjiku

Do you think someone who taxes milk, medicine and other basic things cares about Wanjiku? They want to SEEM as if the care about Wanjiku but they DON'T. They know exactly what they are doing.



Let's face it, we are a country run by educated people who lack basic wisdom or are so corrupt they cannot think far. I guess it's the latter. How do you impose a tax like CGT without clarifying the base year. Some people have shares and land inherited for generations. How will CGT be calculated for land one has held for ,50 yrs and now decides to sell.

I suspect the reason for such lackadaisical approach to legislation is so that Wanjiku gets slaughtered while the rich who can hire lawyers to defend their interests will go Scot free.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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YoungMulla
#102 Posted : Saturday, January 10, 2015 11:05:48 AM
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Joined: 3/14/2012
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Location: Nairobi Kenya
I doubt that losses will be pegged for future offsetting. Losses are not gains therefore inapplicable to a capital GAINS tax.
Before I die - i will touch the sky!!
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MaichBlack
#103 Posted : Saturday, January 10, 2015 12:47:04 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,452
YoungMulla wrote:
I doubt that losses will be pegged for future offsetting. Losses are not gains therefore inapplicable to a capital GAINS tax.

KRA says they will. Sio sisi!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Wa_ithaka
#104 Posted : Monday, January 19, 2015 9:41:49 AM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Based on this article, cgt on equities will be a while in coming. Apparently, there are basic errors in the ACT such as charging 7.5% instead of 5%.

http://www.businessdaily...2/-/jdcuipz/-/index.html
The Governor of Nyeri - 2017
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mukiha
#105 Posted : Tuesday, January 20, 2015 3:16:11 PM
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Joined: 6/27/2008
Posts: 4,114
Greetings.

I hope this will shed light: http://www.kra.go.ke/not...Gains-Tax-Guidelines.pdf
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Akenyan2014
#106 Posted : Tuesday, January 20, 2015 8:01:07 PM
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Joined: 5/6/2014
Posts: 268
Location: Nairobi, Kenya
[quote=mukiha]Greetings.

I hope this will shed light: http://www.kra.go.ke/not...ains-Tax-Guidelines.pdf[/quote]

I do not understand the complains here. This tax is not that much after all. for every 10k gain you pay 500 bob.Even MPESA charges close to that for withdrawals yet no one complains. How does this compare with PAYE where they take 30% of your gross pay completely disregarding the fact that you pay rent, thitima, mayi .

My complain however is the crazy paperwork trying to file returns. Why didn't KRA first put in place an online platform Shame on you Shame on you shame on them.
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sparkly
#107 Posted : Thursday, January 22, 2015 5:15:52 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
koxwex wrote:
Kihara joni wrote:
Okay, so I bought Mumias in 7 lots, 1.50, 1.75, 1.90, 1.85,1.60,1,95 & 2.00/- so if I sell how will they calculate this? what I see is the KRA being KRA taking the lowest buying price as the price of all the shares and working with that...


i think they will use the average to calculate there duesd'oh!


FIFO per guidelines
Life is short. Live passionately.
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winniek
#108 Posted : Thursday, January 22, 2015 8:28:03 PM
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Joined: 9/21/2014
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Poor preparation, organization and research on the CGT!Very unfair for the beginners in the stock market with little gains being grouped with the seasoned billionaires (speaking for the beginners):(
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uchumi
#109 Posted : Monday, January 26, 2015 10:09:17 PM
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Joined: 9/16/2006
Posts: 228
The taxman is mulling suspension of the capital gains tax (CGT) on share transactions citing implementation difficulties, even as stockbrokers moved to court to challenge the new levy.
“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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uchumi
#110 Posted : Monday, January 26, 2015 10:10:28 PM
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http://www.businessdaily...6/-/f2vv6oz/-/index.html
“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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hisah
#111 Posted : Wednesday, January 28, 2015 7:59:57 AM
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Joined: 8/4/2010
Posts: 8,977
This CGT is DoA. GoK will realize this is not a war worth fighting for. Forcecul implementation will crash the market. I don't think treasury is that stupid to do so.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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derick
#112 Posted : Wednesday, January 28, 2015 9:43:07 AM
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Joined: 1/10/2015
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hisah wrote:
This CGT is DoA. GoK will realize this is not a war worth fighting for. Forcecul implementation will crash the market. I don't think treasury is that stupid to do so.

So you are telling us that the government has withdrawn cgt?
Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Realtreaty
#113 Posted : Wednesday, January 28, 2015 11:55:38 AM
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Joined: 8/16/2011
Posts: 2,296
They should have come with the Idea of instituting a Gain tax on heavy traders moving over 30,000 shares atime and not the poor wanjiku selling her 500 shares. This will ryme on what happens to tax on large land and housing estates being sold.
Parliament brought this to curb land speculation and I wonder why it was introduce to stock market without limits as in land and housing.
The same Govt does not restitute on losses!!!!
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Othelo
#114 Posted : Wednesday, January 28, 2015 12:03:15 PM
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Court gives stockbrokers, KRA one week to negotiate


http://www.businessdaily.../-/s5ogo1z/-/index.html
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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derick
#115 Posted : Wednesday, January 28, 2015 8:34:13 PM
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Othelo wrote:
Court gives stockbrokers, KRA one week to negotiate


http://www.businessdaily.../-/s5ogo1z/-/index.html


They should scrap it off
Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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mlennyma
#116 Posted : Wednesday, January 28, 2015 9:13:10 PM
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derick wrote:
Othelo wrote:
Court gives stockbrokers, KRA one week to negotiate


http://www.businessdaily.../-/s5ogo1z/-/index.html


They should scrap it off

the tax is coming to make brokers poorer
"Don't let the fear of losing be greater than the excitement of winning."
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hisah
#117 Posted : Wednesday, February 04, 2015 7:48:24 AM
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Joined: 8/4/2010
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derick wrote:
hisah wrote:
This CGT is DoA. GoK will realize this is not a war worth fighting for. Forcecul implementation will crash the market. I don't think treasury is that stupid to do so.

So you are telling us that the government has withdrawn cgt?

A DOA scenario is easy to spot anytime - http://www.businessdaily...-/12fsh1tz/-/index.html

And then the market effects due to this CGT faceoff - http://www.businessdaily...0/-/4n0j1k/-/index.html

CGT is not the issue, but implementation. GoK is forgetting capital has no loyalty. Capital dislikes uncertainity. Uncertainity leads to capital flight. Capital flight leads to less tax revenue. Then what...? GoK should study zimbabwe and france as they went on a taxing spree. Deflation follows as demand evaporates...

This also reminds me of WHT (15%) on dividends as low as KES 100. Senseless is an understatement...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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shrewdinvestor
#118 Posted : Wednesday, February 04, 2015 8:07:26 AM
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Joined: 9/12/2014
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Location: Nyali
someone should punch some sense into GOK's head.They should just look at the volumes/activity in December and January and realize how their CGT is wrecking havoc!Investors avoid tax like plague!
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mkeiy
#119 Posted : Wednesday, February 04, 2015 8:35:02 AM
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Joined: 1/27/2012
Posts: 851
Location: Nairobi
shrewdinvestor wrote:
someone should punch some sense into GOK's head.They should just look at the volumes/activity in December and January and realize how their CGT is wrecking havoc!Investors avoid tax like plague!



The brokers are not helping either, my broker withheld 5% of the sell PROCEEDS, claiming they are not sure of how to calculate the capital gain.

CRAZY!
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littledove
#120 Posted : Wednesday, February 04, 2015 8:55:54 AM
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Joined: 7/1/2014
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Location: sky
http://www.businessdailyafrica.com/Capital-gains-tax-row-hits-foreign-inflows-at-NSE--/-/539552/2612050/-/4n0j1k/-/index.html
shrewdinvestor wrote:
someone should punch some sense into GOK's head.They should just look at the volumes/activity in December and January and realize how their CGT is wrecking havoc!Investors avoid tax like plague!

There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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