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Peoples Budget 2014
Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Robinhood wrote:Swenani wrote:simonkabz wrote:McReggae wrote:KulaRaha wrote:CGT never, the greedy thieves will not allow it. They will find some way of taxing us poor people. That is the bottom line, they will always want to tax the poor coz of the numbers!!! Why not revise the tax brackets, long overdue, we have no business taxing guys earning less than 25K, I don't mind taxing 40% of anything above 250K per month!!! I thought any salary above 30k gets a massive slap of 30% income tax/PAYE. Na hakuna huruma. Simonkabz, do you really pay income tax/PAYE? It is anything above 38,892 that is taxed at 30%. My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25% This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy  Yenyewe hii mambo ya tax bands which have not changed in 15 years is a an insult to the hardworking Kenyans. How do you tax a guy earning 10K. This may have made sense 15 years ago but not today when fare from Yols (Kayole) is kindu 100/= Nkt Upto about 12500/- you get a btax relief equal to the tax so zero tax.....should be raised to 30K though!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25% This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy Waah! @swenani, you're taxing midro krass fellows 50%?? Kwani how much do you earn?
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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ZZE123 wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi huyu swenani must be a rich saddist
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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Lolest! wrote:ZZE123 wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi huyu swenani must be a rich saddist Do you know tax you pay (if not an MP) to Government is already above 50%. Income tax is 30% of your earnings, this is fixed. For your remaining pay (say 70%) you pay VAT for virtually all the goods you purchase, fuel levy, electricity and water bills etc – assume another 20% is chopped off through these bills and VAT. So by default you end up paying over 50% of your earnings to Govt as tax. In other words, every month, we work for government for the first 2 weeks. For the current month (June), you are just finishing working for government since we are at week 2, then you have the next 2 weeks to work for yourself. And you want the tax raised to 70% - 50%+20%???
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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limanika wrote:Lolest! wrote:ZZE123 wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi huyu swenani must be a rich saddist Do you know tax you pay (if not an MP) to Government is already above 50%. Income tax is 30% of your earnings, this is fixed. For your remaining pay (say 70%) you pay VAT for virtually all the goods you purchase, fuel levy, electricity and water bills etc – assume another 20% is chopped off through these bills and VAT. So by default you end up paying over 50% of your earnings to Govt as tax. In other words, every month, we work for government for the first 2 weeks. For the current month (June), you are just finishing working for government since we are at week 2, then you have the next 2 weeks to work for yourself. And you want the tax raised to 70% - 50%+20%??? ongeza tithe ya 10%, failure to which the pastor will recommend your name to be rubbed from the book of life. that comes to 60%, total itakuwa 80% - and if you heed the government call and become a local tourist the hotels will add sijui the catering + service levies. lakini hii economics ni ngumu, no wonder ni wadosi wanaelewa hii mambo
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Rank: Elder Joined: 12/7/2012 Posts: 11,941
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If the taxation is true at 50%, they how do we manage ...... to haki it through to the end month on month! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 3/2/2009 Posts: 26,335 Location: Masada
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Lolest! wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25% This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy Waah! @swenani, you're taxing midro krass fellows 50%?? Kwani how much do you earn? I wanted to ask the same question, I think he is a high school teacher. I will leave Kenya if they decided to tax me 50% on my 6-figure salo. NEVER. We should be taxed the same, coz the guy who is earning 500K pm has worked hard to get that amount...the guy earning 10K should equally work hard to earn more...aende shule if possible ama afanye vile @Itumbi alifanya. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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limanika wrote:Lolest! wrote:ZZE123 wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi huyu swenani must be a rich saddist Do you know tax you pay (if not an MP) to Government is already above 50%. Income tax is 30% of your earnings, this is fixed. For your remaining pay (say 70%) you pay VAT for virtually all the goods you purchase, fuel levy, electricity and water bills etc – assume another 20% is chopped off through these bills and VAT. So by default you end up paying over 50% of your earnings to Govt as tax. In other words, every month, we work for government for the first 2 weeks. For the current month (June), you are just finishing working for government since we are at week 2, then you have the next 2 weeks to work for yourself. And you want the tax raised to 70% - 50%+20%??? Over 30% tax and further 16% VAT on goods = 41.2% net tax.
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Rank: Elder Joined: 12/7/2012 Posts: 11,941
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ecstacy wrote:limanika wrote:Lolest! wrote:ZZE123 wrote:Swenani wrote:My suggestion on income taxation 0-30K taxed at 0% 31-50K is taxed at 10% 51-70K-Taxed at 15% 71-90K taxed at 20% 91-110K taxed at 25% 111-130K taxed at 30% 131-150K taxed at 35% 151-170K taxed at 40% 171-190K taxed at 45% above 191K taxed at 50% corporate tax rate should go down to 20% Increase VAT to 25%This will stimulate savings and spending.For anyone who stepped in an economy class will realise the effects of savings and spending in an economy VAT @25% will kill the common mwanainchi huyu swenani must be a rich saddist Do you know tax you pay (if not an MP) to Government is already above 50%. Income tax is 30% of your earnings, this is fixed. For your remaining pay (say 70%) you pay VAT for virtually all the goods you purchase, fuel levy, electricity and water bills etc – assume another 20% is chopped off through these bills and VAT. So by default you end up paying over 50% of your earnings to Govt as tax. In other words, every month, we work for government for the first 2 weeks. For the current month (June), you are just finishing working for government since we are at week 2, then you have the next 2 weeks to work for yourself. And you want the tax raised to 70% - 50%+20%??? Over 30% tax and further 16% VAT on goods = 41.2% net tax. Not forgeting social welfare & support, harambee hapa na pale etc In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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