Excise Duty news and trends

‘Robin Hood’ Money Transfer Tax Threatens Kenyan Financial Services

June 25, 2018
Kenya
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‘Robin Hood’ Money Transfer Tax Threatens Kenyan Financial Services

June 25, 2018
Kenyan bankers and fund managers have warned a proposed “Robin Hood” tax on many transactions will threaten the future of the country’s economy. According to the Financial Times, the finance bill includes a 0.05 percent excise duty on “money transferred by banks, money transfer agencies and other financial service providers” in amounts of more than Ks500,000 […]