Forex deposits hit all-time high of Sh500bn - Daily Nation
In Summary
  • Treasury secretary Henry Rotich in 2016 offered a tax pardon to encourage fat cats holding undeclared assets overseas to bring them home by June this year, leading to a last-minute rush in May.
  • Mr Rotich, however, extended the deadline to June 2019, and relaxed the scrutiny on how the assets were accumulated to encourage compliance.
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In Summary
  • Treasury secretary Henry Rotich in 2016 offered a tax pardon to encourage fat cats holding undeclared assets overseas to bring them home by June this year, leading to a last-minute rush in May.
  • Mr Rotich, however, extended the deadline to June 2019, and relaxed the scrutiny on how the assets were accumulated to encourage compliance.
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