Taxman eyes billions earned by foreign traders on hedging

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Times Tower in Nairobi, the headquarters of Kenya Revenue Authority. FILE PHOTO | DENNIS ONSONGO | NMG

The Kenya Revenue Authority (KRA) will from January go after the billions being made by foreign traders profiting from Kenyan-based derivatives, as the taxman casts its net beyond borders.

Gains accruing for foreigners from the financial derivative contracts will start attracting 15 percent withholding tax.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.