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story teller
#1 Posted : Monday, June 20, 2011 12:33:27 AM
Rank: Member


Joined: 6/25/2010
Posts: 415
What do you guys think about this. According to this year's budget, land (property) appreciation will not be considered as capital gains which currently do not attract any tax in Kenya.

According to some sources, this appreciation will be taxed as business income currently at 30%! What's up with the taxman? This is going to affect thousands of land/property owners when they sell.

Is this true?
It's not hard to make decisions when you know what your values are.
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guru267
#2 Posted : Monday, June 20, 2011 1:18:21 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
story teller wrote:
What do you guys think about this. According to this year's budget, land (property) appreciation will not be considered as capital gains which currently do not attract any tax in Kenya.

According to some sources, this appreciation will be taxed as business income currently at 30%! What's up with the taxman? This is going to affect thousands of land/property owners when they sell.

Is this true?

Its a lie. No tax on profit from disposals
Mark 12:29
Deuteronomy 4:16
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