Foreign firms to pay billions in tax on repatriated profits

Times Tower. FILE PHOTO | NMG

Foreign firms shipping profits out of Kenya will pay a 10 per cent tax if Parliament passes proposed amendments to the income tax law targeting the flow of funds out of the country.

The Income Tax Bill is also proposing the introduction of a higher 10 per cent tax (from five per cent) on foreigners earning pensions from Kenya.

PAYE Tax Calculator

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