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The Kenya Association of Stockbrokers and Investment Banks (KASIB) is to lodge an appeal within 21 days, against an earlier High Court ruling that threw out their petition in favour of Kenya Revenue Authority(KRA) and the Attorney General on the new capital gains tax (CGT) on securities.
The lobby group went to court arguing that there was no public participation before the new tax was introduced and lack of clarity in legislation, and that levying the tax was an infringement on property rights as protected under the Constitution.
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