Monday, 26 September 2016

Nairobi exchange seeks waiver following KRA tax claim

The Nairobi Securities Exchange is seeking a
waiver from the Kenya Revenue Authority after
the taxman slammed
the bourse data vending
service with a backdated claim.
The Kenya Revenue Authority reviewed the
NSE’s books in December 2012 for compliance
on corporation tax, withholding tax, value added
tax and pay-as-you-earn and found it had not
been paying levies for the data sold to
customers.
This comes at a time the Revenue Authority is
struggling to meet its targets.
The Nairobi Exchange is fighting for the
scrapping of capital gains tax on share sales.