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Fuel to attract VAT
MaichBlack
#41 Posted : Wednesday, February 11, 2015 2:12:36 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
whiteowl wrote:
What if IMF & Co.funded the SGR? I can't even begin to think of the preconditions
They would dictate even how many sufurias you have in your house!!! These fellows helped MOI run the Kenyan economy to the ground - not that he needed help anyway - and now they want to help the current administration do the same. Kefake was not stupid in looking East! China of course will do what is in it's interest but at least it doesn't actively try to run the economies of partner countries to the ground. In most cases it is a win-win situation. You decide as a country if the deal also is in the interest of your country.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
MaichBlack
#42 Posted : Wednesday, February 11, 2015 2:19:05 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
MKWASI wrote:
No one would try it. It is a political suicide; come 2017.
Do what? Pass this tax? You are talking about fellows who passed V.A.T. on milk, medicine, flour and other basic stuff. Don't have so much faith!! And that is why I was hoping Baba or someone else can be strong enough politically to give this government sleepless nights. As it is, the Jubilee government (correctly or otherwise) don't see any credible challengers for 2017. They believe it will be a walk in the park and they therefore don't mind stepping on a few (million) toes every now and then. Whether they are mistaken or not, we will know in two years.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
geofreygachie
#43 Posted : Wednesday, February 11, 2015 2:39:38 PM
Rank: Member

Joined: 2/27/2014
Posts: 454
Location: Republic of Enchantment.
MaichBlack wrote:
MKWASI wrote:
No one would try it. It is a political suicide; come 2017.
Do what? Pass this tax? You are talking about fellows who passed V.A.T. on milk, medicine, floor and other basic stuff. Don't have so much faith!! And that is why I was hoping Baba or someone else can be strong enough politically to give this government sleepless nights. As it is, the Jubilee government (correctly or otherwise) don't see any credible challengers for 2017. They believe it will be a walk in the park and they therefore don't mind stepping on a few (million) toes every now and then. Whether they are mistaken or not, we will know in two years.
Flour
Divers - can you laugh in scuba gear, or will you drown? I was wondering. - James May.
geofreygachie
#44 Posted : Wednesday, February 11, 2015 2:47:27 PM
Rank: Member

Joined: 2/27/2014
Posts: 454
Location: Republic of Enchantment.
sparkly wrote:
VAT on fuel is not a proposal. It is law in the VAT Act, 2013. There is a 3 year "resting" period before the fuel becomes Vatable. The Act was introduced by kefake himself. That time UMK was the finance minister!
I have downloaded the VAT Act 2013 and page 73 states all the items that were to have VAT exempt for a period of three years from the commencement of the Act SECTION B – EXEMPT GOODS ON TRANSITION The following goods shall be exempt supplies for a period of three years from the commencement of this Act unless the exempt status of the supplies is earlier revoked.- 2709.00.00 Petroleum oils and oils obtained from bituminous minerals, crude. 2710.12.10 Motor spirit (gasoline) regular 2710.12.20 Motor spirit (gasoline), premium. 2710.12.30 Aviation spirit 2710.12.40 Spirit type jet fuel. No. 35 2710.12.50 Special boiling point spirit and white spirit. 2710.12.90 Other light oils and preparations. 2710.19.10 Partly refined (including topped crudes). 2710.19.21 Kerosene type jet fuel. 2710.19.22 Illuminating kerosene (IK) 2710.19.29 Other medium petroleum oils and preparations. 2710.19.31 Gas oil (automotive, light, amber, for high speed engines). 2710.19.39 Other gas oils. 2711.21.00 Natural gas in gaseous state 2711.29.00 Other natural gas in gaseous state. You can get the document here
Divers - can you laugh in scuba gear, or will you drown? I was wondering. - James May.
XSK
#45 Posted : Thursday, February 12, 2015 8:23:59 AM
Rank: Veteran

Joined: 12/8/2009
Posts: 975
Location: Nairobi
ZZE123 wrote:
KulaRaha wrote:
Thank God! Jam will reduce finally.
You celebrate as other Kenyans sufferSad Sad
Its the same paradox I encountered when I travelled and earned a few USDs. I would be so happy when the exchange to the USD was high meaning more shillings to my pocket. Only later when I thought through it and realized that the gain I made was eaten by the increase in prices by most of the goods that we imported!!! smile
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
tinker
#46 Posted : Thursday, February 12, 2015 10:39:02 AM
Rank: Member

Joined: 11/15/2010
Posts: 455
Location: Nairobi
XSK wrote:
ZZE123 wrote:
KulaRaha wrote:
Thank God! Jam will reduce finally.
You celebrate as other Kenyans sufferSad Sad
Its the same paradox I encountered when I travelled and earned a few USDs. I would be so happy when the exchange to the USD was high meaning more shillings to my pocket. Only later when I thought through it and realized that the gain I made was eaten by the increase in prices by most of the goods that we imported!!! smile
@KulaRaha. Ever wondered why there are no people walking in European countries. If you factor in the man power lost when the most of the human resource are walking to their work place verses what would have been contributed to the economy - with the difference we would have generated more income- thus more tax - thus better road.
....He who began a good work in you will carry it on to completion..
Mart_Consult
#47 Posted : Thursday, February 12, 2015 12:24:18 PM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
Shafting left, right....and now center: Pump prices to go up once again! Almost as if they wait for fuel prices to slightly lower & add all available levies and taxes (VAT & Road levy)....just in time for global oil prices to rise in 2016...! Sad Sad d'oh! Shame on you Pray Shame on you
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
smallfama
#48 Posted : Thursday, February 12, 2015 3:45:22 PM
Rank: New-farer

Joined: 8/15/2010
Posts: 99
Location: nairobi
This govt is just lazy. Can't they devise ways to widen the tax base? It's always the easy channels; fuel, beer, cigarettes, PAYE,CGT e.t.c while we have guys in Muthurwa, Gikomba et al making tens of millions and going untaxed. KIPPRA, IPAR and other think tanks are proving to be just that...empty tanks.
murchr
#49 Posted : Thursday, February 12, 2015 5:50:30 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
smallfama wrote:
This govt is just lazy. Can't they devise ways to widen the tax base? It's always the easy channels; fuel, beer, cigarettes, PAYE,CGT e.t.c while we have guys in Muthurwa, Gikomba et al making tens of millions and going untaxed. KIPPRA, IPAR and other think tanks are proving to be just that...empty tanks.
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"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 .
whiteowl
#50 Posted : Friday, February 13, 2015 7:08:16 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
At this rate, I'll have to divest from Kenya way much earlier than planned.By 2020 the taxes they're introducing now could have a 30% rate if the economy will not have caved in or some economic sense gotten into their heads.
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