Nairobi starts implementation of Nairobi International Financial Centre (NIFC)

@Okiya et al (huku hakuna watu wa Finance?) the financial ninja that can type: Hii deal mnaona aje?
Mimi nasema, Mzungu wants tax discounts to give loans for SGR to Congo and setup a mining HQ in Nairobi. For instance Base Titanium is HQ in ICEA Building on Waiyaki Way, Bamburi is in KenyaRe - Upper Hill.
1. Otherwise, iendelee ama isiendelee?

The Kenyan Cabinet gave approval to the establishment of the NIFC in June 2013, with a government steering committee set up to oversee the process. In May 2014, the Nairobi Financial Centre Authority was formed to oversee the development of a suitable policy framework. Kenya was going to have One major financial supervisor for Sacco, Banks, Insurance, Central Bank but politricks ilileta shida.

In lay man’s terms their will be certain financial service providers (like BRITAM, Barclays, Equity) that will be operating like Kenya’s EPZ. Investors in Export Processing Zones enjoy a raft of tax benefits including zero-rated corporation tax holiday for a year and 25 per cent tax thereafter, 10-year withholding tax holiday, stamp duty exemption and 100 per cent investment deduction on initial investment applied over 20 years.

However, there was a major setback, lack of a legal platform. Some other efforts to launch African tax havens – notably Ghana and Botswana – have met with little success, and one reason is that many people don’t want to send their money to an African country. But some have been more successful, notably Seychelles and Mauritius, with a range of harmful effects on countries in the region and beyond.

The Milestones:
1. Njiriani na maPanya (Commissioners) na maCockroach (Former GradTrainees) wa KRA : Afanye PR ya kushika mizigo pwani na iTax in Kenya wins awards. But on a serious note:
The chief taxman said the authority is currently executing reforms to address tax regulation hurdles in an attempt to ease investment in the country. Focus will be given to tax administration challenges which have perennially affected cash inflows. “The ease of paying taxes is critical. To make tax administration friendly, we are consolidating payment of deductions. By June we shall have single process of collecting payroll deductions,” Mr Njiraini said. He noted that it is difficult for investors to deal with multiple organisations for different levies instead of just one. Once the reforms are complete, contributions to the National Social Security Fund, National Hospital Insurance Fund and Pay as You Earn will be collected by KRA.

[B]2. Last year the government announced a deal with the Qatari government to advice on the model for the centre.

  1. Double taxation agreements with Qatar, Seychelles, South Africa, Kuwait,Mauritius, Iran and their neighbours in the East African Community.

  2. A Chinese yuan clearing house [/B]


too long!! si hata ungekuwa unaweka mbicha za thighland katikati ya paragraph tusafishe macho @Tia Dalma

Hapa nimeelewa sawia na kulishwa masazo…

Kind of Brain-dead Kenyans I don’t like.

1 Like

@Flx if you post a comment related to
[SIZE=6]Nairobi International Financial Centre (NIFC)[/SIZE]
I will take you somewhere … we can discuss access to ThighLand.
yaani uko na Visa, sasa iendelee ama isiendelee?

@Tia Dalma is @ aviator…welcome back …

@stunner utafanya nichujwe
aviator was last seen: Aug 1, 2016 Tia Dalma Joined: Aug 2, 2016

yeah?, and i am the Dalai Lama…

I haven’t heard of this.

what a coincidence, am tempted to agree with @stunner ([SIZE=1]welcome back mama saitan[/SIZE])