Capital gains tax is a fiscal tool that has been on the statute books in both the developing and developed world and is part and parcel of the history of taxation. Kenya was one of the few countries where this tax had not been in force. My reviews of 35 tax jurisdictions in Africa revealed that only a handful of countries do not have this tax. Among them are Mauritius, Namibia, South Sudan, Swaziland and Zambia. We should count ourselves lucky that what has been imposed on us is a “paltry” rate of 5 per cent, because in many countries this tax is charged at normal corporate tax rate going as high as 30 per cent.
Posted on: Sun, 07 Sep 2014 15:06:57 +0000
Recently Viewed Topics
© 2015