Kenya Association of Stockbrokers and Investment Banks (Kasib) is warning that the proposed 14 percent tax on stock exchange brokerage will be passed to investors, potentially cutting appetite for shares and bonds in a market suffering from low local investor participation. Brokerage services are now VAT-exempt, but a bill wants to introduce the 14 percent tax on insurance agency, insurance brokerage, securities brokerage services, tea and coffee brokerage.
Source: businessdailyafrica.com
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