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Peoples Budget 2014
Rank: Chief Joined: 5/9/2007 Posts: 13,095
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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  Sitaki ujinga @Swenani...
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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Impunity wrote: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.  , enyewe using @sewanis figures high school teachers will be very happy - kwani @Itumbi alifanya nini
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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Who is in Parliament to give live updates?? 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: 2/26/2008 Posts: 4,449
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Angelica _ann wrote: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 You know! However, that expense you mention is discretionary For the mandatory, add varying expenses related to lack of basic service delivery in security & security related expenses, water, garbage collection and this figure likely touches 50%.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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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 @Lolest, anybody earning above 191K is an upper middle class earner.The reason why Govt tax you is because it assume that you used its resources to generate income(its like a WTA for the govt infrastructure) hence the less income you have the less resources you use and thus the less tax imposed and vice versa. Anyone earning more than 191k is a upper middle class earner or upper class kenyan. If you introduce 25% VAT, you discourage spending by individuals(who are after all tax exempt(for those earning below 30K) or charged a lower income tax) on unnecessary items.The spending will be left for the upper middle class,upper class and corporates who will will finance the spending through borrowings of the lower and lower midde class kenyans savings If Obiero did it, Who Am I?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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ecstacy wrote:Angelica _ann wrote: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 You know! However, that expense you mention is discretionary For the mandatory, add varying expenses related to lack of basic service delivery in security & security related expenses, water, garbage collection and this figure likely touches 50%. social welfare and support,security related expenses,garbage collection is for the upper middle class and upper class. In any economy its always the middle class(middle and upper middle class) who are heavily taxed. Do you know that the highest tax rate for Denmark is 55%,Netherlands is 52% UK is 50% If Obiero did it, Who Am I?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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nakujua wrote:Impunity wrote: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. , enyewe using @sewanis figures high school teachers will be very happy - kwani @Itumbi alifanya nini CAn you imagine the multiplier effect? Most businesses in shags are owned by teachers with their little earnings that are overtaxed;Can you imagine what they could do if their little earnings are not taxed? They will create job opportunities for so many villagers and your kins who are in the village If Obiero did it, Who Am I?
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Kidero amepewa 1B to decongest roundabouts? Somebody confirm!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne
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McReggae wrote:Kidero amepewa 1B to decongest roundabouts? Somebody confirm!!! @Reggae, Just like the traffic cameras, the Safaricom security system, what's new??
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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McReggae wrote:Kidero amepewa 1B to decongest roundabouts? Somebody confirm!!! hio atatumia for re-election campaigns If Obiero did it, Who Am I?
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