this will kill kenya investments

[Globalcitizen12]

• Tweet

Because this will be tripple taxation. You pay uhuru 30 percent on rental income and uncle Sam gets may be 7 percent . so who in their right mind will iinvest in Kenya unless you create a tax shelter to lock irs out.http://www.mwakilishi.com/content/articles/2015/12/03/kenyans-in-diaspora-us-to-monitor-your-financial-dealings-in-kenya.html

https://www.irs.gov/Businesses/Income-from-Abroad-is-Taxable

The key is to keep income under  10k a year but must be reported to irs

[Georgesoros]

I don't think they are monitoring it to tax it, rather monitoring it to check for money laundering. Some people make make and don't report it to IRS. Those are the ones who should be afraid. So, no hullabaloo.

[Globalcitizen12]

uncle sam will figure out how much money they are losing and crackdown. They been flagging Kenyans wires most top investors in New England have had their accounts frozen until they "government" completes investigation. Usually this takes a few days or weeks and it may not be know by account holder if they do not attempt to use the account

[Georgesoros]

The bank reports all transactions to IRS.

[bryan275]

Uncle Sam has Kenyan banking under lock and key.  I understand that my bank in nbo is obligated to forward my financial information to the US even when I'm neither American nor a US resident.