Wazua
»
Club SK
»
Politics
»
Peoples Budget 2014
Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
|
Swenani wrote:washiku wrote:Swenani wrote:Income tax act to be reviewed from July. ...yes next month Haki naomba please please wasikusikize @Swenani. Rotich is currently collecting public views on wazua! Rotich said 83.6 % of the 1.8T will come from the tax payer olololo...hapo iko shida! i.am.back!!!!
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
Imagine if Rotich is replaced by Swenani! Hiyo Economics yake ni Economixx. Tutahama Kenya! VAT @25pc plus Inc Tax ya 50pc?
|
|
|
Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
|
Lolest! wrote:Imagine if Rotich is replaced by Swenani! Hiyo Economics yake ni Economixx. Tutahama Kenya! VAT @25pc plus Inc Tax ya 50pc? That's the only way to reduce the gap between the very rich and the very poor as they do in most developed countries. However I think 190k is little. Probably around 300k + should be taxed over 50% and those taxes utilized as incentives to the poor (Note not handouts) i.am.back!!!!
|
|
|
Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
|
Obi 1 Kanobi wrote:This thread does not belong here, suggesting any increased taxes beyond the 30% is insane. every month i weep when i see the amount of my hard earned money thats washed down the sewer thats KRA.
I would prefer they focused their tax collection efforts on;
- those farmers (or mido men) who mint millions transporting cabbages/milk to Nairobi on rickety old cantors
- those land lords with uncountable apartments in Nairobi and whose properties contribute to the overflowing sewers
- all those contractors and "watu wa supplies" who collect my taxes from gava offices every month.
But I am sure they will not as this is too hard a job. @Obi. These are very sound & valid points. There are still too many high earners that don't pay any income tax. The burden is left to the salaried workers in formal employment
|
|
|
Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
|
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@ Swen 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 hich eco  @ Swenani. I have no idea which economy class you have been to. However, if you start taxing people at 35 % and above, AND increase VAT to 25%, NOBODY will have any savings, apart from people who earn but don't pay tax.
|
|
|
Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
|
Swenani wrote: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% @ Swenani,  Those highest tax rates are OK because: - At what salary do these rates kick in ? - What do these guys get for their taxes. Unemployed benefits, old age pension, good health care, working police & security, good infrastructure, reliable power & water, etc. etc. I would not mind paying these if GOK can provide all the above.
|
|
|
Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
|
MatataMingi 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@ Swen 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 hich eco @ Swenani. I have no idea which economy class you have been to. However, if you start taxing people at 35 % and above, AND increase VAT to 25%, NOBODY will have any savings, apart from people who earn but don't pay tax. @Matatamingi, if you increase VAT it means that you are discouraging spend at for individuals who will prefer to save than spend.If you increase income tax, tax payers will want to decrease their tax burden by saving for pension or houses which are all tax deductible at certain levels. That's why taxation is used a fiscal policy to encourage/discourage spending If Obiero did it, Who Am I?
|
|
|
Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
|
|
|
|
Wazua
»
Club SK
»
Politics
»
Peoples Budget 2014
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|