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Capital Gains Tax on EQUITIES

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Impunity		#21 Posted : Friday, November 28, 2014 1:20:25 AM
Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada		urstill1 wrote: Ali Baba wrote: tkzee wrote: How is capital gains going to be computed for someone who inherited shares? Considering that at some point these shares were inform of certificates before being immobilized. Kazee,form a limited liability company and transfer or sell your shares to your company before january first.... I'm interested though the whole process might spill over to January and possibly beyond. If that is done, does it mean that I'll never pay the 5% tax on CG? Does this 5% thing apply to land ownership transfer? Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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The optimist		#22 Posted : Monday, December 22, 2014 5:36:27 PM
Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi		Adept Tranport Services
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sparkly		#23 Posted : Monday, December 22, 2014 9:08:11 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Ali Baba wrote: tkzee wrote: How is capital gains going to be computed for someone who inherited shares? Considering that at some point these shares were inform of certificates before being immobilized. Kazee,form a limited liability company and transfer or sell your shares to your company before january first.... If you inherited, you pay the 5% if you sell. You can also let your kids inherit, no CGT payable. Life is short. Live passionately.
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maka		#24 Posted : Tuesday, December 23, 2014 12:52:09 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		This CGT will affect everyone acheni maswali.... possunt quia posse videntur
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MaichBlack		#25 Posted : Monday, January 05, 2015 5:57:57 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,911		Brokers are playing hard ball!!! 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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mlennyma		#26 Posted : Monday, January 05, 2015 6:25:59 PM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		I cannot also cooperate to pay this unless its deducted before it reaches me or iam followed by kra to my house at gunpoint...Rwanda is very keen to take advantage of our taxation stupidity and woo investors to their house by removing taxes which hinder investment "Don't let the fear of losing be greater than the excitement of winning."
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MaichBlack		#27 Posted : Monday, January 05, 2015 6:31:17 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,911		mlennyma wrote: I cannot also cooperate to pay this unless its deducted before it reaches me or iam followed by kra to my house at gunpoint Habari ndiyo hiyo!!! They will be forced to contract (and pay) the brokers to be collecting agents! Or they can force in some regulations that forces the broker to collect and forward like happens with VAT and PAYE. 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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whiteowl		#28 Posted : Tuesday, January 06, 2015 12:14:21 AM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		I sold a small chunk of my Britam shares and CGT wasn't part of the discussion. Unless kra puts a knife on my neck on Wednesday when I'm getting my cash,hii kitu silipi! How can I pay CGT when my broker doesn't have records of my buying price and I'm also suffering from a memory lapse?
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mlennyma		#29 Posted : Tuesday, January 06, 2015 8:44:20 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		The market will not be as liquid as we are used to,the worst thing that has ever happened in my nse life. "Don't let the fear of losing be greater than the excitement of winning."
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TheGeek		#30 Posted : Tuesday, January 06, 2015 8:49:55 AM
Rank: Member Joined: 7/3/2014 Posts: 245		MaichBlack wrote: Brokers are playing hard ball!!! Not so fast Quote: “A stockbroker who conducts the transfer of investment shares on behalf of a transferor shall collect and remit tax to the commissioner in accordance with section 35(5),” reads paragraph 18 of the eighth schedule. Link is below. Brokers obligated to collect capital gains tax, KRA says In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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