Kenyans of Indian descent have returned more than 13 billion shillings that was hidden in foreign accounts.
The affluent Kenyans are taking advantage of the tax amnesty on assets stashed abroad announced by Treasury Cabinet Secretary Henry Rotich last year and extended earlier this year.
The Times of India reports that the money is mainly being repatriated to Kenya from Takulas Bhuj and Mandvi in Gujarat, a state in the western region of India where most Kenyan-Indians hail from since last December.
Bank officials said the cash brought back into Kenya totals Rs1,000 crore, of which Rs430 crore was returned between April and June this year.
Under the tax amnesty scheme, Kenyan taxpayers are required to return foreign-held assets and declare their foreign-earned income before the June 30th, 2019 deadline. After the pardon period expires, a 10% tax penalty will be imposed on these assets.
Those who repatriate their wealth will not be subjected to scrutiny on how they acquired the cash, National Treasury Cabinet Secretary Henry Rotich said in June this year.
Sorry but this is a group of…
Sorry but this is a group of very selfish people who have participated in straight up white and blue color thuggery for generations. For us to give them tribal status shows how gullible, naive and foolish we truly are. They are attached to their native land more than any other group of foreigners. You would think after the first generation the attachment would dwidle or wither away but nope. It grows stronger and stronger and once they acquire a visa to London or Canada they take off like lightening. Kenya is used at a stepping stone; Open biashara, employ these blacks to work for you tirelessly under harsh conditions and low pay, amass wealth, don’t pay taxes bring your looser brother in Gujarat to carry on meanwhile take off for other greener pastures.in other words, their work is to rape the country leave it for dead and the Kenyan government supports it every step of the way.
@mugikuyu I hope u don’t…
@mugikuyu I hope u don’t hold any USA citizenship juu that’s another way to b made a tribe in USA juu they have given u permanent stay by making u legally their own so leave this guys alone.In Kenya u have the rights to invest or stash yr cash anywhere u want.So if this guys have brot the cash back that’s good juu that money will rotate in our economy.N to b attached on yr native land is the best thing ever n I wish Kenyans or Africans we can b like them we invest in our Country ndio watu who leaves outside like slaves comes back home.East or west home is the best otherwise we remain slaves slaves paying higher taxes building other pples countries instead of yours.Again it’s good the billions r back in Kenyan soil.
@MkenyaHalisi you suffer…
@MkenyaHalisi you suffer from me, myself and I syndrome. That if something does not directly affect you it is not your problem and therefore does not concern you but that’s a story for another day. This diaspora group you keep attacking is keeping the Kenyan shilling afloat. Their reminttance is the highest foreign exchange having surpassed tea, coffee tourism etc. Were it not for this group, it would cost you more to travel to New Jersey to see your buddies or Vegas to enjoy a game of rugby because the shilling would be worthless, down in the toilet. Knowing this you would think the government would go into overdrive trying to make sure all Kenyans in diaspora get a passport but nope. Wanataka kitu kidogo obviously driven by small mind mentality.
This diapora group of people is responsible of keeping many many kids in school from primary to universities. This group is keeping afloat many businesses in Kenya as well as providing food in many households. When you talk of slavery etc please understand this group may very well be the most philanthropic, they are the true patriots. They understand it is better to give than to receive. That is just my opinion.
What does it take you to…
What does it take you to realize that the people you constantly condemn and refer to as slaves, play a big role to keep afloat the economy of the country you claim to love so much? Do you think those diaspora inflows are used to buy mandazi and beans? Broaden your mind some more and see the diaspora for the patriots that they are – sending back the cash they have sweated for to help their families and invest for the future, as opposed to the baniani you are defending who only bring theirs back when given a tax break.
Mugikuyu@mugikuyu, I second…
Mugikuyu@mugikuyu, I second you on this one. As for Indians in Kenya, we’re the host, they’re the pest. Kenya is a cow they milk dry. Pay no taxes, get cheap labor from Kenyans, treat them like trash; with no insurance no safety at work and insults. Their children study in US, Canada, Australia and UK mostly on wealth siphoned from African countries. And they’re quietly the most racist group of people. For More than a hundred years living among us; there is almost zero inter-marriages. They claim they’re tightly beholden to their culture but they jump to marry with Caucasian every chance they get. During the Mau Mau war of independence, they were largely on the side of the British, yet the had suffered similar fate under British India. The African must wake up and stand up for what’s truly his before our future becomes the nightmare of our yester-years.
@mugikuyu muacha mila ni…
@mugikuyu muacha mila ni mtumwa.Yes the cash u guys send contribute heavily in the economy but don’t lie to yourself that if we didn’t have it kenya won’t move forward???Remember before that cash wasn’t coming like today n the country had other ways to look for cash?But having said that I don’t call our pple slaves in a bad way my bratha.Ukiwa kwa nchi ya wenyewe ur like slave coz that’s not ur home?I encourage Diaspora who I know Majority r not happy to b in those countries to kinda invest n return home juu kuna many opportunities than b4 if u have planned yourself but fir those who have decided to remain there they can do so.But I know many wants to return home n the time is now before kenya is divided by hardworking Kenyans here in Kenya who r making small but big moves even if the gava is blamed with corruption.Please don’t b fooled by those in Diaspora who always talk trash negatives about kenya.Trust me 1000 times if u have something small here ur more happier comfortable hapa home than in majuu n remember by the end of the day it’s not about jobs jobs big cars big houses.Its about life quality n I don’t think pple live that in majuu where u have mortgages bills zenye haziishi.Always scared if u gonna loose yr job,immigration,guns n what not.Majuu is only good to chase cash or education then u return home as soon as possible.Especially for those who don’t have papers n haven’t returned home for a while guys don’t b scared kenya ni kuzuri if u kinda invested small.Build yr own house before returning so ur mortgage free then pesa kidogo ya small biz or farming u will b smiling n u will regret u came back kitambo.Cheers