Kenyan Court Upholds Bid to Tax PE Fund, May Weigh on Deals

Kenya’s High Court ruled that a private equity firm must pay tax on profits from the sale of a local business, even though the transaction was completed overseas, a landmark...

By Prinesha Naidoo, David Herbling · Bloomberg Markets

Kenya’s High Court ruled that a private equity firm must pay tax on profits from the sale of a local business, even though the transaction was completed overseas, a landmark decision that may jeopardise the country’s ability to attract foreign capital.