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Capital Gains Tax set at 0.3% of transaction value

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winmak		#21 Posted : Friday, June 12, 2015 12:50:35 PM
Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru		newfarer wrote: What if it is a 280%loss on kq share sale. Do i still pay the.0.3% tax? He he... Of course... And Obiero is watching you... Does this thing take effect immediately? For investors as a whole, returns decrease as motion increases ~ WB
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newfarer		#22 Posted : Friday, June 12, 2015 1:05:43 PM
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda		winmak wrote: newfarer wrote: What if it is a 280%loss on kq share sale. Do i still pay the.0.3% tax? He he... Of course... And Obiero is watching you... Does this thing take effect immediately? So this is not capital gains tax. It is a regressive transactional tax on shares which rains blows on a knocked out player . A provision should have been made for recovery of the tax paid on the loss in future profitable sales punda amecheka
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mlennyma		#23 Posted : Friday, June 12, 2015 2:33:19 PM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		winmak wrote: newfarer wrote: What if it is a 280%loss on kq share sale. Do i still pay the.0.3% tax? He he... Of course... And Obiero is watching you... Does this thing take effect immediately? has your broker ever asked you whether you are making a profit to deduct their commission? "Don't let the fear of losing be greater than the excitement of winning."
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moneydust		#24 Posted : Friday, June 12, 2015 2:56:32 PM
Rank: Member Joined: 1/31/2007 Posts: 304		mlennyma wrote: winmak wrote: newfarer wrote: What if it is a 280%loss on kq share sale. Do i still pay the.0.3% tax? He he... Of course... And Obiero is watching you... Does this thing take effect immediately? has your broker ever asked you whether you are making a profit to deduct their commission? Good question...this is much better than the 5% capital gains tax Lets not grumble all the time..if anything the government has let us of the hook..
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hisah		#25 Posted : Friday, June 12, 2015 4:00:13 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		I see Treasury finally pulled the plug on CGT yesterday as per my expectation that it was a DoA idea. My heartfelt condolences go out to the CGT backers (IMF et al). I will duly update my signature due to this change. Back to business. This transaction tax though punitive is much better than that ill advised CGT. But the market structure is broken for any bullish fight to come from this development. GDP has to be revised down after that CBR hike. The ambitious budget will definitely crowd out the domestic money market to fund that gaping hole from reduced tax collection due to a slumping econ. The market has to price in that reality making the path of least resistance to be downwards (bearish trend). $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Realtreaty		#26 Posted : Friday, June 12, 2015 5:48:05 PM
Rank: Elder Joined: 8/16/2011 Posts: 2,387		The alliens are the MPigs who pass laws without knowing what exactly they are passing. They do it using their butts and stomacs not the heads....reason we should have learned MPs
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guru267		#27 Posted : Friday, June 12, 2015 9:30:22 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		Othelo wrote: Rotich actually gets 0.6% per transaction becuase both parties will be charged......... ama? This tax is a withholding tax on share Sales only Share purchases will be charged the normal commission! Mark 12:29 Deuteronomy 4:16
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winmak		#28 Posted : Saturday, June 13, 2015 8:25:33 AM
Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru		Thanks for that madam. For investors as a whole, returns decrease as motion increases ~ WB
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tkzee		#29 Posted : Saturday, June 13, 2015 10:30:43 AM
Rank: Member Joined: 7/13/2010 Posts: 160 Location: rift Valley-Naks		guru267 wrote: Othelo wrote: Rotich actually gets 0.6% per transaction becuase both parties will be charged......... ama? This tax is a withholding tax on share Sales only Share purchases will be charged the normal commission! I concur with you. "Investors are now expected retain 0.3 per cent of any gains realised from the trade of shares and the brokers are expected to act as agents of KRA." Read more at: http://www.standardmedia...ital-gains-tax?pageNo=2 But lets await further interpretation because there is a big loop hole in that. ''i can calculate the motion of heavenly bodies,but not the madness of people''-Isaac Newton
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Thiong'o		#30 Posted : Saturday, June 13, 2015 2:51:17 PM
Rank: Member Joined: 10/14/2011 Posts: 661		tkzee wrote: guru267 wrote: Othelo wrote: Rotich actually gets 0.6% per transaction becuase both parties will be charged......... ama? This tax is a withholding tax on share Sales only Share purchases will be charged the normal commission! I concur with you. "Investors are now expected retain 0.3 per cent of any gains realised from the trade of shares and the brokers are expected to act as agents of KRA." Read more at: http://www.standardmedia...ital-gains-tax?pageNo=2 But lets await further interpretation because there is a big loop hole in that. Rotich removed the five percent tax on capital gains arising from the selling of shares and introduced a 0.3 percent withholding tax on transaction value of the shares. http://www.capitalfm.co....al-gains-tax-on-shares/
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