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Wednesday, January 29, 2014

Tax Exemption Required: Kenya athletes threaten boycott over tax


Some of Kenya's top athletes have threatened to stop representing their nation at international competitions like the Olympics over new tax laws.

Wesley Korir, an MP and former Boston marathon winner, said athletes would end up paying tax twice as they already pay tax on their winnings abroad.

Addressing a forum of athletes in Eldoret, he said athletes only pocket about 15% of their earnings.
The move could also see many athletes changing nationality, he said.

Kenya is home to some of the world's best middle- and long-distance runners. The Kenya Revenue Authority (KRA) wants prize-winning athletes to pay the top rate of tax - 30% - on their earnings from this month.
 
SOURCE: BBC NEWS