Kenyan court temporarily suspends 'Robin Hood' tax on bank transfers

Kenyan court temporarily suspends 'Robin Hood' tax on bank transfers
Kenya's Cabinet Secretary of National Treasury Henry Rotich addresses delegates during the launch of the first mobile-phone-based government bond, called M-Akiba, at the Treasury building in Nairobi, Kenya March 23, 2017. REUTERS/Thomas Mukoya Copyright Thomas Mukoya(Reuters)
By Reuters
Share this articleComments
Share this articleClose Button

NAIROBI (Reuters) - Kenya's High Court has temporarily suspended a "Robin Hood" tax on bank transfers of over 500,000 shillings (£3,818), which was imposed at the beginning of this month, the Kenya Bankers Association said on Thursday.

Finance Minister Henry Rotich introduced the so called "Robin Hood" tax of 0.05 percent in his budget speech last month. It was introduced on July 1.

(Reporting by Duncan Miriri; Editing by Alison Williams)

Share this articleComments

You might also like

America's disastrous 'War on Terror' in Africa is now a global security crisis

French overseas territory of Mayotte moves hundreds of refugees to mainland France

A Trump win would see Africa (and the world) spiral into climate hell