CMA seeks tax incentives for company subsidiaries

Subsidiaries of holding firms, which list shares on the Nairobi bourse, will enjoy a lower tax rate for five years in a fresh bid by the capital markets regulator to woo multinationals.

The proposal, which is still at a stakeholder consultation stage before it can be presented to Treasury secretary Henry Rotich for consideration, is aimed at countering competition from Mauritius that is using tax incentives to attract global companies.