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JUNE BUDGET for fiscal year 2010/2011
Kamaa
#11 Posted : Friday, June 04, 2010 11:57:10 AM
Rank: Veteran

Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
& VAT rate should be reduced, it has been 16% for a very long time... as for tax bands well, that would be a nice move...
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
2012
#12 Posted : Friday, June 04, 2010 12:31:00 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Kamaa wrote:
& VAT rate should be reduced, it has been 16% for a very long time... as for tax bands well, that would be a nice move...
Reduced or increased? I doubt the Govt. will ever reduce VAT, I can foresee them increasing to 18% and reduce or zero rate other inconsequential, useless taxes. VAT is a cashcow for EA governments and they might decide to harmonize it at 18% in the guise of leveling the EA trading field.
BBI will solve it :)
sky5
#13 Posted : Friday, June 04, 2010 12:46:18 PM
Rank: Member

Joined: 5/7/2010
Posts: 282
Location: Nairobi
I think in the coming budget, the budget deficit will definitely increase. Income tax bands may be widened to increase disposable income and many incentives for foreign direct investments may be announced.
winston
#14 Posted : Monday, June 07, 2010 12:43:55 PM
Rank: Member

Joined: 4/14/2010
Posts: 806
Location: Nairobi
Is there any hope that Uhuru will reverse the infamous Mwiraria pension rule barring employees from accessing the employers' portion of their retirement benefits until they are 50/55 years? While it boasted the level of cheap funds available for government borrowing and benefited fund managers(with bigger portfolios to manage & earn fees), it has really dashed/dented the prospects of those who have changed employment or lost their jobs. The government should stop babysitting adults!
Chaka
#15 Posted : Wednesday, June 09, 2010 4:06:41 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
Why hasn't government removed VAT on building materials?This would reduce the cost of houses somewhat...
2012
#16 Posted : Wednesday, June 09, 2010 4:45:29 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Chaka wrote:
Why hasn't government removed VAT on building materials?This would reduce the cost of houses somewhat...
Never. It's like removing tax on fuel. You only zero rate basic survival needs like food and things that would indirectly increase your revenue eg computers, farming equipments and the like.
BBI will solve it :)
slykat
#17 Posted : Wednesday, June 09, 2010 5:21:06 PM
Rank: Member

Joined: 2/20/2007
Posts: 359
@ 2012 You are right only if u limit your imagination! U can zero rate anything you like as long as you have imagination and sound math. Housing and buildings are essentially like infrastructure and can improve revenues directly through more housing for rent more income tax plus multiplier effect. Eg, where was kitengela 15 years ago? Is it not a booming micro economy now?
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