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Capital gains tax to be increased from 5% to 20%
Rank: New-farer Joined: 6/13/2016 Posts: 47 Location: kenya
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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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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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Foolishness in desperation = KRA Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 7/21/2010 Posts: 6,182 Location: nairobi
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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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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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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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Rank: Member Joined: 5/6/2011 Posts: 391 Location: Nairobi
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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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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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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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Rank: Elder Joined: 7/21/2010 Posts: 6,182 Location: nairobi
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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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Rank: Veteran Joined: 11/13/2015 Posts: 1,588
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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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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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Where is the kumira kumira brigade? Look what you have done. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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KulaRaha wrote:Where is the kumira kumira brigade?
Look what you have done. Irregardless of who won debts will still have to be paid by taxes. Dawa ya deni ni kulipa
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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kawi254 wrote:KulaRaha wrote:Where is the kumira kumira brigade?
Look what you have done. Irregardless of who won debts will still have to be paid by taxes. Dawa ya deni ni kulipa Kumira kumira! Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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There is a limit to how much citizens are willing to pay tax, too little the government makes no money, too high and citizens abandon the item or service being taxed,GoK saw what happened with the earlier capital gains on shares, and the other tax on used cars and recently the tax on cheap liquor. To Each His Own
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kayhara wrote:There is a limit to how much citizens are willing to pay tax, too little the government makes no money, too high and citizens abandon the item or service being taxed,GoK saw what happened with the earlier capital gains on shares, and the other tax on used cars and recently the tax on cheap liquor. Njiraini has run out of ideas, he should retire this country is not short of people. KRA has come up with nothing substantive since Waweru. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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KulaRaha wrote:kawi254 wrote:KulaRaha wrote:Where is the kumira kumira brigade?
Look what you have done. Irregardless of who won debts will still have to be paid by taxes. Dawa ya deni ni kulipa Kumira kumira! Blowing-your-nose Blowing-your-nose!! Foresight..
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Rank: New-farer Joined: 6/13/2016 Posts: 47 Location: kenya
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KulaRaha wrote:Where is the kumira kumira brigade?
Look what you have done. Dealing with the new news and are speechless due to the Sonko-Miguna marriage shocker.
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Rank: Member Joined: 6/15/2013 Posts: 301
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mikanjoroge wrote:KulaRaha wrote:Where is the kumira kumira brigade?
Look what you have done. Dealing with the new news and are speechless due to the Sonko-Miguna marriage shocker. If this marriage happens its a confirmation that this guy doesn't know what he is doing and is overwhelmed by the job...and to consider the sea of all the corporate types he could choose!!!
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Rank: New-farer Joined: 2/12/2019 Posts: 58
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Do you know any country in the world which have like 20% on capital gains ? Capital gains - means tax for rich people. I assume it will never be like that. Income, some county/state and sort of added sale tax is for rest of the world - poor ones, they will never do that I think, but let me know;)
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Capital gains tax to be increased from 5% to 20%
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