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Capital gains tax to be increased from 5% to 20%
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mikanjoroge
#1 Posted : Wednesday, May 16, 2018 9:03:33 AM
Rank: New-farer

Joined: 6/13/2016
Posts: 47
Location: kenya
Will bunge agree to pass this law?
How do you think this will affect property prices. Will sellers just transfer cost to buyer?
Will investors shy away from buying land and property?
Should I sell my shares before the effective date to avoid this 20% penalty? Is that why NSE index is on downward trend?

I also read elsewhere VAT is going up on fuel and unga. Is Gova too broke?

"If Parliament approves the far-reaching proposals, it could also see the capital gains tax rate rise from five per cent to 20 per cent.
..."

https://www.nation.co.ke/news/To...563732-1iefq6/index.html
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  | | Edit by user: Wednesday, May 16, 2018 9:05 AM | Reason: Not specified
Ericsson
#2 Posted : Wednesday, May 16, 2018 9:06:26 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,815
Location: NAIROBI
mikanjoroge wrote:
Will bunge agree to pass this law?
How do you think this will affect property prices. Will sellers just transfer cost to buyer?
Will investors shy away from buying land and property?
Should I sell my shares before the effective date to avoid this 20% penalty? Is that why NSE index is on downward trend?

I also read elsewhere VAT is going up on fuel and unga. Is Gova too broke?

"If Parliament approves the far-reaching proposals, it could also see the capital gains tax rate rise from five per cent to 20 per cent.
..."

https://www.nation.co.ke/news/To...563732-1iefq6/index.html


This law doesn't affect the NSE.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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KulaRaha
#3 Posted : Wednesday, May 16, 2018 9:31:09 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Foolishness in desperation = KRA
Business opportunities are like buses,there's always another one coming
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mlennyma
#4 Posted : Wednesday, May 16, 2018 9:36:38 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
KulaRaha wrote:
Foolishness in desperation = KRA

Kenyans are alone nobody to defend them,you know the class who pocket the biggest chunks of the taxes are not wanjikus
"Don't let the fear of losing be greater than the excitement of winning."
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  | | Edit by user: Wednesday, May 16, 2018 9:41 AM | Reason: Not specified
whiteowl
#5 Posted : Wednesday, May 16, 2018 9:57:55 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
Frog in a boiling pot.When you agree to a new tax being introduced you've already lost the war.Govt can now crank it to 20%,30% and even 50% with little or no resistance.
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Speculz
#6 Posted : Wednesday, May 16, 2018 10:04:06 AM
Rank: Member

Joined: 5/6/2011
Posts: 391
Location: Nairobi
Wonder what will happen when KRA and treasury exhaust all this desperate measures to increase taxes, when the taxes we already pay are blatantly misused, those cheering for the 5% increase in PAYE taxation for high earners, don't forget KRA will eventually come for you in your bracket. Anyway forward will depend on a suitable environment for conducting business and not just on paper.
"You can't have everything. Where would you put it?" - Stephen Wright
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mnandii
#7 Posted : Wednesday, May 16, 2018 10:11:48 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
mlennyma wrote:
KulaRaha wrote:
Foolishness in desperation = KRA

Kenyans are alone nobody to defend them,you know the class who pocket the biggest chunks of the taxes are not wanjikus


Add to this the fact that interest on the Chinese loans will increase significantly from July, Public servants to start paying pensions of 7.5% on their salaries in October, more Eurobond issues, corporate tax increases .....
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mlennyma
#8 Posted : Wednesday, May 16, 2018 10:21:01 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
whiteowl wrote:
Frog in a boiling pot.When you agree to a new tax being introduced you've already lost the war.Govt can now crank it to 20%,30% and even 50% with little or no resistance.

Only one man could mount meaningful resistance but today he is moving with a convoy of high end cars and high security
"Don't let the fear of losing be greater than the excitement of winning."
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wukan
#9 Posted : Wednesday, May 16, 2018 10:25:02 AM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,656
Kenyans and their love of socialist freebies free education, free health care...serikali saidia plus the wasteful public service and political class.

To paraphrase the iron lady be careful asking the govt to do everything for you because one day it will take everything from you. You are cattle in the tax farm.
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Ericsson
#10 Posted : Wednesday, May 16, 2018 10:49:09 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,815
Location: NAIROBI
mlennyma wrote:
whiteowl wrote:
Frog in a boiling pot.When you agree to a new tax being introduced you've already lost the war.Govt can now crank it to 20%,30% and even 50% with little or no resistance.

Only one man could mount meaningful resistance but today he is moving with a convoy of high end cars and high security


Aka Tinga,Pamba
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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