Kenya to more than double capital gains tax
Rise from 5% to 12.5% will bring rate in line with international standards, says finance minister
13 June 2019 - 18:52
Nairobi — Kenya will more than double its capital gains tax rate to 12.5% from 5% to bring it in line with international standards, finance minister Henry Rotich said in budget proposals to parliament on Thursday.
The East African economy is one of the fastest growing in the region, expanding by 6.3% in 2018 on the back of a good harvest in a country where farming makes up about a third of output. However, investors have been unnerved by a jump in government debt in recent years, to more than 55% of GDP from 42% in 2013...
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