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Wealthy Kenyans return Sh118bn stashed abroad

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Wealthy Kenyans filed to return Sh118 billion assets from foreign countries in the final year of a tax pardon, official data shows.

The value was declared for repatriation in the period ended June 2019 after the Treasury extended the amnesty process by a year.

The Kenya Revenue Authority (KRA) received 3,543 amnesty applications in the period, a report submitted to the National Assembly’s Committee on Finance and National Planning shows.

In extending the time for declaring and returning the riches stashed abroad, suspended Treasury secretary Henry Rotich had cited lack of clarity on whether the cash repatriated home should be subjected to provisions of Proceeds of Crime and Anti-Money Laundering Act.

That law requires persons transacting Sh1 million and more to declare the source of their wealth to the Financial Reporting Centre, the anti-money laundering agency.

“The amnesty was extended for a further year and assurance given that once the money is transferred, there will be no follow-up on the source of the funds,” KRA says in the report.

“The amendment was meant to allow more time for persons seeking amnesty and create favourable environment for repatriation of funds.”

READ ALSO:   Top range vehicles stolen in UK nabbed

The exemption, however, excluded people who accumulated riches abroad from crimes of terrorism, poaching and drug trafficking.

“That was supposed to be a sweetener, but practicability part of it is that it was not possible because if I bring the money, you may not tell the source,” said Mr Stephen Waweru, a senior tax services manager at KPMG. “They may not have fully succeeded because of a bit of mistrust around whether it was a way for KRA to net them after they declare and go for them in future,”

The income declared from wealth abroad, including homes, during the year-long extension appears to be lower than what had been disclosed between mid-2017 and 2018.

The KRA, in a statement to the Business Daily in May, said about Sh1 trillion had been declared by 16,000 applicants since the window opened.

The blanket amnesty was initially to end in December 2017, but was extended twice to June 2019 following a delay by the taxman to issue guidelines on repatriation of wealth stashed in offshore accounts.

The forgiveness on tax and accruing penalty and interest initially targeted foreign-earned income up to the period ended December 2016, but this was pushed forward to December 2017.

by  nation.co.ke


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Africa

Kenya has the most expensive schools in Africa costing over Sh3M a year per student

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The International Schools Database 2020, has ranked Kenya’s cluster of schools as the most expensive in Africa.

According to the report, the most expensive international schools in Kenya charge an average of Ksh 3,245,932 in school fees per year.

Kenya has a well-established private, international schools sector serving both expatriates and local elites, with schools clustered around Nairobi, Mombasa, Nakuru and Kisumu.

The vast majority teach in English and offer a British curriculum but International Baccalaureate (IB) programmes are increasingly popular.

International Schools Report 2020.
International Schools Report 2020.
FILE

There are six IB World Schools in Kenya, all of which are authorized to offer the International Baccalaureate Diploma.

Three IB programs are offered by Aga Khan Academy schools in Nairobi and Mombasa, while Braeburn Garden Estate School, which is part of the home-grown Braeburn education group, offers the IB Diploma alongside A-levels.

The Braeburn group runs seven schools in Kenya of which four are based in and around Nairobi, with the others are in Mombasa, Kisumu and Nanyuki. The schools follow the English national curriculum leading to A-levels and IGCSEs and two of them offer weekly boarding.

Other international schools in Kenya include: Kenton College Preparatory School, GEMS Cambridge International School, German School Nairobi, Greensted International Schools, St Andrew’s Senior School among others.

In late 2017, St Andrews Turi become the talk of social media after its fees structure and menu were leaked to the public.

READ ALSO:   Top range vehicles stolen in UK nabbed

Year 7 and 8 full board students were recorded as paying Ksh 730,000 in school fees per term.

In the latest International School Fees report 2020, South Africa had the lowest maximum prices for international education in Africa (Ksh 627,798).

Kampala in Uganda was highlighted as the most affordable city in Africa for international schooling with the lowest minimum international school fees of Ksh 67,303 per year.

Below are the most costly schools in Kenya:

  • In Kenya, Education is seen as the passport to the future, for tomorrow belongs to those who prepare for it today. However, in Kenya, some of the ‘passports’ come at a cost that is enough to buy you a parcel of land and set up a nice bungalow upcountry.


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Health

Comedian Flaqo opens up on rare condition he has been battling

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Popular Kenyan comedian, Flaqo born Erastus Ayieko Otieno has for the first time spoken about a rare condition that he has been struggling with for some time.

Turns out that despite the funny man the Kenyan audience and beyond has grown to know as Flaqo Raz, he has his fair share of battles behind the cameras.

Flaqo opens up

The Internet sensation shared a photo showing red, itchy welts like a form of skin reaction on certain parts of his body.

Depending on the reactions, the welts appear and fade repeatedly and vary in size.

The YouTuber shared his condition with fans in the hope that maybe one or two can relate to what he has been going through and maybe work out a solution on the same.

“Anyone with this condition, how do you go about it?” he posed.

Comedian Flaqo rare skin condition

“Sometimes I have to postpone my shoots because they are unbearable. Zangu zilipotea for 6 months straight. Now they are back…” he replied to a fan who shared a similar experience.

Funny enough, soon as he had put up the post, he got so much feedback, with so many individuals able to relate to his skin condition, to his amazement.

READ ALSO:   Uhuru storms KRA depot after city traders complain of delays – PHOTOS

“So far: try staying in the sun for a bit, bathe with warm water after taking antihistamines. To understand your condition better, make a point of seeing a dermatologist,” Flaqo shared with fans battling a similar condition, after gathering responses from his fan base.

Wrapping up urging fellow victims to take plenty of water, work out more often and avoid proteins since hives get triggered by things like particular foods, medication and stress.

By Ghafla.com


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News

REVEALED: How three teenage sisters were impregnated by a shamba boy – police

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Police in Tana River county in Kenya are looking for a shamba boy  (gardener) who fled after allegedly  impregnating all three of his employer’s underage daughters at around the same period.

The girls said the man would often lure them to their farm where he would sexually defile them. One of the sisters confessed to sneaking into the gardener’s room at night.

“I did not know he was having affair with my sisters as well because we didn’t share that part of our lives with each other, as we didn’t trust each other with secrets,” one of the teenagers told Daily Nation.

The further divulged that the man would entice them with gifts such as money and clothes.

“He used to give me pocket money and would sometimes buy me clothes. He was so nice to me. I did not know he was doing the same to my sisters,” another girl said.

Each of the three sisters gave birth to a set of twins at a Garissa hospital on Saturday through a Cesarean Section.

All the three are Class Eight learners and are expected to sit for their Kenya Certificate of Primary Education (KCPE) examination in March next year.

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On her part, the girls’ mother said she noticed her daughters had new sets of underpants but she did not suspect something was going on between them and the gardener.

“I noticed some funny set of underwear which caught my attention. But my last-born daughter kept saying she had bought them with her pocket money,” the mother explained.

“What I did not understand was why she chose that funny type of underwear,” she said.

She learned of the gardener’s affair with her daughters after she stumbled upon a message on one of the girls’ phone informing the man of the pregnancy.

She then discovered the two were planning to get rid of the pregnancy, prompting her to ambush all her daughters with a pregnancy test the following morning. Two of the girls admitted they were pregnant before the tests.

The shamba boy is said to have fled after learning that the three sisters were all pregnant with his children. Police are still looking for him.

The first-born daughter was expecting triplets but she could only deliver two children safely and without complications.

“They all had slim chances of survival, and that is why we looked for a specialist. But for the girl with the triplets to come out alive, we had to agree with the mother to choose between her daughter and the third infant,” a doctor said.

READ ALSO:   Uhuru storms KRA depot after city traders complain of delays – PHOTOS

The three were discharged from the hospital following the operations and are recuperating at home.

 


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