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Ksh 1.4 Trillion national budget
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eboomerang
#11 Posted : Wednesday, June 13, 2012 4:52:41 PM
Rank: Member

Joined: 6/27/2011
Posts: 301
Location: Nairobi
Ms Mkenya wrote:
I am just hoping that whatever they plan to do:-
1. Does not increase my taxation
2. Does not make me pay more for basics
3. Allows me to invest easily
4.MP's pay hefty taxes, commensurate to their perks. And that they send off packages are taxed too. Pretty much like any bonus a normal Kenyan gets!


The first two items are most likely going to take
place. It could be either one of them or both.
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murchr
#12 Posted : Wednesday, June 13, 2012 5:04:35 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
eboomerang wrote:
ralp_mutu wrote:
Ali Baba wrote:
ITZ:You are mistaken!! Kenya govt can afford Shs 1.4T budget.What of oil in turkana?? Simply put,borrow money till the oil starts flowing in 6yrs.As simple as ABC.....


But the public rate its at 51% of GDP capped by the constitution. So the idea of borrowing Nah..

Just expect widening tax rates from Githae



In addition, if we really know that we shall gain revenue from Oil, why can't we wait until the exploration activities begin generating revenues and in that case we will be in a position to support our growth organically without having to incur extra capital costs which are converted into tax ?

This will be a retrogressive move, it will most likely lead to increase in corporate tax which will again detract potential investors. We will have managed to create a stalemate and a Greeceey situation.


So are you saying that the building of roads/railways that are leading to the oil sites should stop until the oil starts flowing? Come on i thot wazuans are brighter than that....?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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mnandii
#13 Posted : Wednesday, June 13, 2012 5:10:01 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
KRA should just seal loopholes that tax defaulters use. The proposal to tax landlords is a nice one.

With the prediction of fall in shilling's value as well as heightened political activity, basic goods will definitely cost more.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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ralp_mutu
#14 Posted : Wednesday, June 13, 2012 5:13:42 PM
Rank: Member

Joined: 3/26/2012
Posts: 232
Location: Nairobi
eboomerang wrote:
Ms Mkenya wrote:
I am just hoping that whatever they plan to do:-
1. Does not increase my taxation
2. Does not make me pay more for basics
3. Allows me to invest easily
4.MP's pay hefty taxes, commensurate to their perks. And that they send off packages are taxed too. Pretty much like any bonus a normal Kenyan gets!


The first two items are most likely going to take
place. It could be either one of them or both.


Red Flag VAT on exemptions and reintroduction of Capital gains tax..
My folks told me that my very first word was 'billionaire'
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eboomerang
#15 Posted : Wednesday, June 13, 2012 5:13:46 PM
Rank: Member

Joined: 6/27/2011
Posts: 301
Location: Nairobi
murchr wrote:
eboomerang wrote:
ralp_mutu wrote:
Ali Baba wrote:
ITZ:You are mistaken!! Kenya govt can afford Shs 1.4T budget.What of oil in turkana?? Simply put,borrow money till the oil starts flowing in 6yrs.As simple as ABC.....


But the public rate its at 51% of GDP capped by the constitution. So the idea of borrowing Nah..

Just expect widening tax rates from Githae



In addition, if we really know that we shall gain revenue from Oil, why can't we wait until the exploration activities begin generating revenues and in that case we will be in a position to support our growth organically without having to incur extra capital costs which are converted into tax ?

This will be a retrogressive move, it will most likely lead to increase in corporate tax which will again detract potential investors. We will have managed to create a stalemate and a Greeceey situation.


So are you saying that the building of roads/railways that are leading to the oil sites should stop until the oil starts flowing? Come on i thot wazuans are brighter than that....?


That is not what I meant.

I haven't seen the actual budget but prioritizing and carefully choosing where to invest in stages would spread the costs over time and reduce the risk created by going all out on capital intensive expenditures for 5 years in a row.
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QW25091985
#16 Posted : Wednesday, June 13, 2012 5:44:45 PM
Rank: User

Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
Ali Baba wrote:
ITZ:You are mistaken!! Kenya govt can afford Shs 1.4T budget.What of oil in turkana?? Simply put,borrow money till the oil starts flowing in 6yrs.As simple as ABC.....


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly . Dude you made my day . LOL gova CANNOT afford a 1.4 trillion budget that why we HAVE A VERY BIG budget deficit . lol

when that day ever reach that we can have the money to do all thats in the budget ? maybe another life !
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murchr
#17 Posted : Wednesday, June 13, 2012 7:22:03 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
eboomerang wrote:
murchr wrote:
eboomerang wrote:
ralp_mutu wrote:
Ali Baba wrote:
ITZ:You are mistaken!! Kenya govt can afford Shs 1.4T budget.What of oil in turkana?? Simply put,borrow money till the oil starts flowing in 6yrs.As simple as ABC.....


But the public rate its at 51% of GDP capped by the constitution. So the idea of borrowing Nah..

Just expect widening tax rates from Githae



In addition, if we really know that we shall gain revenue from Oil, why can't we wait until the exploration activities begin generating revenues and in that case we will be in a position to support our growth organically without having to incur extra capital costs which are converted into tax ?

This will be a retrogressive move, it will most likely lead to increase in corporate tax which will again detract potential investors. We will have managed to create a stalemate and a Greeceey situation.


So are you saying that the building of roads/railways that are leading to the oil sites should stop until the oil starts flowing? Come on i thot wazuans are brighter than that....?


That is not what I meant.

I haven't seen the actual budget but prioritizing and carefully choosing where to invest in stages would spread the costs over time and reduce the risk created by going all out on capital intensive expenditures for 5 years in a row.


They said 73% of the budget is going to recurrent exp and the rest infrastructure development. The 73% is what should go down there is no hrm in spending money to get more money
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Intelligentsia
#18 Posted : Wednesday, June 13, 2012 7:36:41 PM
Rank: Elder

Joined: 10/1/2009
Posts: 2,436
Am amazed we are considering oil revenues yet it is not proven in the first place that the reserves are commercially viable! What if we reckon them and then they ont materialise? Si exactly hivyo ndivyo M7 alifanya in Ug, spending petro money he anticipates to earn and raiding public coffer off a cool USD 740M to buy 6-8 Su-30MK2 jet fighters?

My concern is that we get a trimmer budget (remember fewer ministries <15)that we can afford so that we don't rely on donors at at all to plug any deficit - i dont want our country to end up with crazy donor conditionalities like Burundi which relies on them for almost 50% of its budget.

For us the solution is to seal loopholes - to bring more guys under the tax net and ensure teh funds are actually well-utilised si ukora kama ya FPE,NHIP, NSSF, etc.
And I hope they allocate more money to defence - kenya needs to upgrade its military capability now that our geo-political stature is growing.
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Bachuma Gate
#19 Posted : Wednesday, June 13, 2012 8:52:14 PM
Rank: Member

Joined: 3/26/2012
Posts: 280
mnandii wrote:
KRA should just seal loopholes that tax defaulters use. The proposal to tax landlords is a nice one.

With the prediction of fall in shilling's value as well as heightened political activity, basic goods will definitely cost more.


KRA will pick from LANDLORDS. Landlords will pick from tenants. No landi will accept to part with 30% of his rent without getting it back from somewhere. Expect 2 bed flats of 15K to shoot to 19-20K

Secondly it will slow down housing development seriously. Why invest 5million on a flat to earn 15K less 30% (10K).
DOH
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mnandii
#20 Posted : Wednesday, June 13, 2012 9:55:11 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Bachuma Gate wrote:
mnandii wrote:
KRA should just seal loopholes that tax defaulters use. The proposal to tax landlords is a nice one.

With the prediction of fall in shilling's value as well as heightened political activity, basic goods will definitely cost more.


KRA will pick from LANDLORDS. Landlords will pick from tenants. No landi will accept to part with 30% of his rent without getting it back from somewhere. Expect 2 bed flats of 15K to shoot to 19-20K

Secondly it will slow down housing development seriously. Why invest 5million on a flat to earn 15K less 30% (10K).


I don't think KRA can go back on their intention to tax landlords given the gadgets they have acquired specifically for such purposes.

Also other taxes hidden within the constitution to be imposed by the county gov. These are certainities. Sad
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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