Wealthy Kenyans have repatriated more than Sh1 trillion that had been stashed abroad.
The Kenya Revenue Authority (KRA) says the money has been wired back to the country since the announcement of a tax amnesty on wealth hidden in offshore accounts three years ago.
The agency says the funds have been returned by about 16,000 individuals who took advantage of the amnesty provision declared in 2016.
The government said those who repatriate wealth stashed in foreign accounts within the amnesty period would not be forced to disclose the source of their money.
“We have received over 16,000 applicants with the amount repatriated so far standing at Ksh1,014,058,103,551.”
“The incentive was meant to encourage Kenyans to repatriate wealth back to the country for the purposes of development,” KRA says in a statement.
In a report, an American think tank, The National Bureau of National Research, quoted the amount stashed in offshore accounts by Kenya’s super-rich at Sh5 trillion by 2018.
The amnesty announced by Treasury Cabinet Secretary Henry Rotich will close next month.
99.9% stole this money from…
99.9% stole this money from tax payers and stashed it in foreign banks and now they have been given reprieve. Are we supposed to celebrate this?
Wacha maneno..
It’s them and their friends…
It’s them and their friends giving themselves a chance to own and SANITIZE the loot. I can bet my last coin that they knew what they were doing when they stashed that money away. IT IS SAD! That is TAXPAYER’S MONEY…now stole and there will be NEVER A TRACE!
If there more outside the…
If there more outside the country – then extend more on the term to allow extensive repatriation of the looted public funds for further development of Kenya – simple logic.
Umaskini wetu ni wa…
Umaskini wetu ni wa kujitafutia tu. Pesa ambazo zimewekwa nje zikitumiwa kujenga viwanda, watu wengi wanaweza kuishi maisha ya heshima si kama maisha utakayoona kwenye vidiyo hii ya wafanyakazi wasichana.
Pia, tapeli mkristo Ruto akijenga viwanda nchini badala ya kuwahonga mafisi, viongozi wa makanisa, maisha yanaweza kuwa bora kwa karibu kila mtu Kenya.
https://youtu.be/KuE5ndHYgdA
https://youtu.be/21G98xWA6qE
https://youtu.be/21G98xWA6qE
Kenyans my God…just a…
Kenyans my God…just a notch lower than MiddleEast…lakini wasiseme waarabu.
I believe the housegirl… Listen to that wife and hubby and pick who they are from their answers – tell-tale loaded answers. The Mediators are just as useless…no initiative — and do I say the language being used in court (English) is a disadvantage to the housegirl(s). Ah, Kenyan jameni!
@ Ndugu Imara,asante kwa…
@ Ndugu Imara,asante kwa hiyo clip.Kagame is pondering the same questions that concern me every day.And that is un accountability of resorces,be they grants loans or gifts.like you said if these resources are used well and for the purposes intended, kenyans would be a happy lot.
IAAF unintentionally wrote a $150,000 check instead of 15 ooo to Nigeria sports authority.This was to help them with African games at Asaba,2years ago.Iaaf accountants caught the mistake immediately and asked Nigerian officials to return the difference.They have kept on dodging for 2 years. They have been give till Tuesday to return the money or Nigerian will not participate in international athetics.Now tell me who is suffering for the greed of few corrupt individuals.No wonder Nigerian athletes have been trooping to the oil rich Arab states.Like i said elsewhere ,you can steal in africa and most likely get away with it but when you hit the international stage where less corrupt countries are running the show it will be hard to get away unblemished.
Only!
They need to return…
Only!
They need to return all the money they stole.
Some people are just evil.
And we’re asking for LOANS…
And we’re asking for LOANS from China why?????????
Ndugu yangu @Maxiley:…
Ndugu yangu @Maxiley:
Nafikiri wakati sasa umefika kwa Wakenya na Wafrika wote kusimama imara na kusema, “Enough is Enough.” Yaani kwa Kiswahili, “Jamani, tumechoka!”
Ni lazima Afrika ipate viongozi wapya ambao watawatumikia Wafrika kwanza na kulinda bara letu kutokana na “mafisi wa kigeni” ambao madhumuni (purpose) yao ni kuiba mali ya Afrika na pia akili ya Mwafrika.