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Capital Gains Tax on EQUITIES
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kiwaru
#171 Posted : Monday, June 15, 2015 9:50:50 AM
Rank: Member

Joined: 8/5/2011
Posts: 125
Another reason why one should be careful with frequent trading...
Another reason for long term investing
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hisah
#172 Posted : Thursday, July 30, 2015 6:52:43 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
NSE investors told to pay capital tax
Quote:
The taxman has ordered investors at the Nairobi Securities Exchange (NSE) to continue paying capital gains tax until the end of the year, ushering in more bad news for a bear market.

“The Finance Bill 2015 has proposed the introduction of a withholding tax at 0.3 per cent of the gross transaction value on the sale of listed securities effective January 1, 2016.


d'oh! Brick wall Not talking
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Thursday, July 30, 2015 6:54 AM | Reason: Not specified
jawgey
#173 Posted : Thursday, July 30, 2015 7:37:38 AM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
hisah wrote:
NSE investors told to pay capital tax
Quote:
The taxman has ordered investors at the Nairobi Securities Exchange (NSE) to continue paying capital gains tax until the end of the year, ushering in more bad news for a bear market.

“The Finance Bill 2015 has proposed the introduction of a withholding tax at 0.3 per cent of the gross transaction value on the sale of listed securities effective January 1, 2016.


d'oh! Brick wall Not talking


My thinking is that this will only reduce the supply in the market as guys wait for 1st jan 2016
Seeing is believing
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kimugaman
#174 Posted : Thursday, July 30, 2015 8:40:35 AM
Rank: New-farer

Joined: 5/15/2015
Posts: 26
Just to be clear, so that I understand.
If I sell shares and the value of the sale of my shares is 100,000. The stock broker will keep 0.3 from January 2016? Yani 0.3/100 x 100,000 = KSH 300.

This is regardless of if shares went up or down. Just multiply 0.3/100 X <value of shares sold>. Is this correct? If so, this is chump change. I can even add another 300 for bus fare for KRA clerks. he he he.
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enyands
#175 Posted : Thursday, July 30, 2015 8:59:10 AM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
jawgey wrote:
hisah wrote:
NSE investors told to pay capital tax
Quote:
The taxman has ordered investors at the Nairobi Securities Exchange (NSE) to continue paying capital gains tax until the end of the year, ushering in more bad news for a bear market.

“The Finance Bill 2015 has proposed the introduction of a withholding tax at 0.3 per cent of the gross transaction value on the sale of listed securities effective January 1, 2016.


d'oh! Brick wall Not talking


My thinking is that this will only reduce the supply in the market as guys wait for 1st jan 2016


Buy buy buy not sell
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hisah
#176 Posted : Thursday, July 30, 2015 10:15:27 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
kimugaman wrote:
Just to be clear, so that I understand.
If I sell shares and the value of the sale of my shares is 100,000. The stock broker will keep 0.3 from January 2016? Yani 0.3/100 x 100,000 = KSH 300.

This is regardless of if shares went up or down. Just multiply 0.3/100 X <value of shares sold>. Is this correct? If so, this is chump change. I can even add another 300 for bus fare for KRA clerks. he he he.

Yes. But punitive since the transaction tax doesn't care if your investment is profitable or not.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Boris Boyka
#177 Posted : Thursday, July 30, 2015 10:24:34 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
hisah wrote:
kimugaman wrote:
Just to be clear, so that I understand.
If I sell shares and the value of the sale of my shares is 100,000. The stock broker will keep 0.3 from January 2016? Yani 0.3/100 x 100,000 = KSH 300.

This is regardless of if shares went up or down. Just multiply 0.3/100 X <value of shares sold>. Is this correct? If so, this is chump change. I can even add another 300 for bus fare for KRA clerks. he he he.

Yes. But punitive since the transaction tax doesn't care if your investment is profitable or not.

@hisah this man kimuga (guard) suggests collectiveness not bothering kinds.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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instinct
#178 Posted : Thursday, September 24, 2015 2:10:16 PM
Rank: Member

Joined: 8/17/2007
Posts: 294
I gather CGT has been abolished and will not be charged even next year! This should spur some buying activity...

RiNK
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  | | Edit by user: Thursday, September 24, 2015 2:12 PM | Reason: Not specified
hisah
#179 Posted : Sunday, September 27, 2015 4:01:13 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
instinct wrote:
I gather CGT has been abolished and will not be charged even next year! This should spur some buying activity...

RiNK

Suspension starts from Jan 1 2016.

This is what happens when govt has no clue on what it's doing. CGT now applies to OTC. The UAP deal must have informed this poor decision. Let's tax an illiquid market!? Warped thinking! This will not force OTC shares to be listed at NSE. The main market instead will face a competitor as another exchange comes up!

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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whiteowl
#180 Posted : Sunday, September 27, 2015 10:19:53 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
hisah wrote:
instinct wrote:
I gather CGT has been abolished and will not be charged even next year! This should spur some buying activity...

RiNK

Suspension starts from Jan 1 2016.

This is what happens when govt has no clue on what it's doing. CGT now applies to OTC. The UAP deal must have informed this poor decision. Let's tax an illiquid market!? Warped thinking! This will not force OTC shares to be listed at NSE. The main market instead will face a competitor as another exchange comes up!



They'll hardly get 5 million if what they collected in the main market is anything to go by
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