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President Uhuru Kenyatta 2nd Term - 2017/2022
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Funny thing is the funds transfer tax doesn't affect tangawizi and co since they only handle cash. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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EACC just bought integrity centre for 1.5B. Monthly rent was 1.5M. A supposedly broke government approved a deal to spend 1.5B to save rent of 18M per year. Payback period = 83 years.
Anyone who understands real estate investments knows that any deal whose payback goes beyond 20 years is simply a bad investment. The cost to rent ratio should never go beyond 200. The ratio for this transaction is 1000. For perspective, it's like buying a nyayo embakasi apartment for 30M.
I would want to see the books of accounts of the Anglican church when wabukala was boss. That mzee is the real mafia boss.
Uhuruto is no doubt a curse from God.
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Rank: Elder Joined: 10/3/2008 Posts: 4,057 Location: Gwitu
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FRM2011 wrote:EACC just bought integrity centre for 1.5B. Monthly rent was 1.5M. A supposedly broke government approved a deal to spend 1.5B to save rent of 18M per year. Payback period = 83 years.
Anyone who understands real estate investments knows that any deal whose payback goes beyond 20 years is simply a bad investment. The cost to rent ratio should never go beyond 200. The ratio for this transaction is 1000. For perspective, it's like buying a nyayo embakasi apartment for 30M.
I would want to see the books of accounts of the Anglican church when wabukala was boss. That mzee is the real mafia boss.
Uhuruto is no doubt a curse from God. And DPF a government entity sold the building to private investor for 400M in 2014! Truth forever on the scaffold Wrong forever on the throne (James Russell Rowell)
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Ohulu proposals... Quote:It is a shame the media is just focusing on the 8% VAT on fuel. In the 20 page document the president has made ten recommendations as follows;
1.Definition of betting winnings to include the full payment without subtracting the expenses of the winner. Winnings to be taxed at 20%
2.Reduction of petroleum VAT from 16% to 8% and its implementation date changed from September 2020 to September 2018. Calculation of VAT not to include excise duty, fees and other charges.
3.Motor Vehicle Excise Duty of between 20% and 30%
4.Sugar confectioneries including white chocolate at Sh 20 per kg
5.Telephone and internet data services excise duty at 15% of excisable value (up from current 10%)
6.Money transfer services fees Excise duty at 20% of excisable value (up from current 10%)
7.Other fees charged by financial institutions Excise duty at 20% of excisable value (up from current 10%)
8.Reduction of lotteries, betting and gaming taxes from 35% to 15%
9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions
10.Adulteration levy on kerosene at the rate of KShs 18 per litre. Diesel and Kerosene to cost the same to end adulteration
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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hardwood wrote:Ohulu proposals... Quote:It is a shame the media is just focusing on the 8% VAT on fuel. In the 20 page document the president has made ten recommendations as follows;
1.Definition of betting winnings to include the full payment without subtracting the expenses of the winner. Winnings to be taxed at 20%
This will hit Nguka and #alternative investment yawa!!!!! 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: 3/2/2007 Posts: 8,776 Location: Cameroon
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TULIA.........UFUNZWE!
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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hardwood wrote:Ohulu proposals... Quote:It is a shame the media is just focusing on the 8% VAT on fuel. In the 20 page document the president has made ten recommendations as follows;
1.Definition of betting winnings to include the full payment without subtracting the expenses of the winner. Winnings to be taxed at 20%
2.Reduction of petroleum VAT from 16% to 8% and its implementation date changed from September 2020 to September 2018. Calculation of VAT not to include excise duty, fees and other charges.
3.Motor Vehicle Excise Duty of between 20% and 30%
4.Sugar confectioneries including white chocolate at Sh 20 per kg
5.Telephone and internet data services excise duty at 15% of excisable value (up from current 10%)
6.Money transfer services fees Excise duty at 20% of excisable value (up from current 10%)
7.Other fees charged by financial institutions Excise duty at 20% of excisable value (up from current 10%)
8.Reduction of lotteries, betting and gaming taxes from 35% to 15%
9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions
10.Adulteration levy on kerosene at the rate of KShs 18 per litre. Diesel and Kerosene to cost the same to end adulteration This government has no clue of what its doing, why tax the same person over and over, the majority of kenyans remain untaxed as they are farmers and small traders, they may not make as much money on average but they sure do leave a better life than the teacher, watchman, office cleaner, messenger who is constantly taxed because the govt is too lazy to develop a tax system that will capture the entire population. The Sh 18 kerosene adulteration tax is simply just evil. its a transfer of the VAT from motorists to the poorest in society and in urban areas who use stoves to cook and lamps to light The govt needs to be smarter ama people will just give up and quit trying to work harder, whats the point anyway if the govt takes all your income and gives you nothing in return. I just made a conscious decision to use return to cash transactions. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Quote:9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions How will the houses be allocated since its very unfair to pay for someone else's house while you do not have one.
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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hardwood wrote:Quote:9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions How will the houses be allocated since its very unfair to pay for someone else's house while you do not have one. This is a very contestable deduction especially after the CS said you can apply to be refunded if you don't get a house. Does this mean people who don't want govt houses should from the onset not pay, coz I am already struggling with my mortgage na sitaki nyumba ya serikali. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Member Joined: 9/25/2008 Posts: 510
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Court declares Finance Bill illegal I AM trust in GOD, I AM belief in THYSELF
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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T-Bag wrote:Court declares Finance Bill illegal A court declaring a law in the process of making illegal is just laughable. Hii Judiciary ina mambo "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 .
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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T-Bag wrote:Court declares Finance Bill illegal Toothless courts. Nonsense,even the 16% we're paying on fuel was stopped when kamwana was in China... BBI will solve it :)
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Obi 1 Kanobi wrote:hardwood wrote:Ohulu proposals... Quote: 10.Adulteration levy on kerosene at the rate of KShs 18 per litre. Diesel and Kerosene to cost the same to end adulteration
This government has no clue of what its doing, why tax the same person over and over, the majority of kenyans remain untaxed as they are farmers and small traders, they may not make as much money on average but they sure do leave a better life than the teacher, watchman, office cleaner, messenger who is constantly taxed because the govt is too lazy to develop a tax system that will capture the entire population. The Sh 18 kerosene adulteration tax is simply just evil. its a transfer of the VAT from motorists to the poorest in society and in urban areas who use stoves to cook and lamps to light The govt needs to be smarter ama people will just give up and quit trying to work harder, whats the point anyway if the govt takes all your income and gives you nothing in return. I just made a conscious decision to use return to cash transactions. On this one i beg to differ. ERC did a study using Tanzania's experiment on the same. Truth is we have a disproportionate number of "kerosene users". We also have a huge fuel adulteration problem. So huge that Burundi and Rwanda have since stopped importing fuel through Kenya. When Tanzania did the same by raising the price of kerosene, the "usage" dropped by almost 80%. When KNBS does their household studies on income & poverty levels, electricity and LPG use, something does not add up with our numbers. 80% of our kerosene is not going to light households but to mix with petrol and diesel. The upside, once the bill is signed, now you can fuel anywhere without worrying about the quality of fuel.
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Rank: Member Joined: 3/15/2009 Posts: 359
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Obi 1 Kanobi wrote:hardwood wrote:Quote:9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions How will the houses be allocated since its very unfair to pay for someone else's house while you do not have one. This is a very contestable deduction especially after the CS said you can apply to be refunded if you don't get a house. Does this mean people who don't want govt houses should from the onset not pay, coz I am already struggling with my mortgage na sitaki nyumba ya serikali. Soma the document, you can only withdraw your funds after 15yrs of contribution or at retirement,
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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FRM2011 wrote:Obi 1 Kanobi wrote:hardwood wrote:Ohulu proposals... Quote: 10.Adulteration levy on kerosene at the rate of KShs 18 per litre. Diesel and Kerosene to cost the same to end adulteration
This government has no clue of what its doing, why tax the same person over and over, the majority of kenyans remain untaxed as they are farmers and small traders, they may not make as much money on average but they sure do leave a better life than the teacher, watchman, office cleaner, messenger who is constantly taxed because the govt is too lazy to develop a tax system that will capture the entire population. The Sh 18 kerosene adulteration tax is simply just evil. its a transfer of the VAT from motorists to the poorest in society and in urban areas who use stoves to cook and lamps to light The govt needs to be smarter ama people will just give up and quit trying to work harder, whats the point anyway if the govt takes all your income and gives you nothing in return. I just made a conscious decision to use return to cash transactions. On this one i beg to differ. ERC did a study using Tanzania's experiment on the same. Truth is we have a disproportionate number of "kerosene users". We also have a huge fuel adulteration problem. So huge that Burundi and Rwanda have since stopped importing fuel through Kenya. When Tanzania did the same by raising the price of kerosene, the "usage" dropped by almost 80%. When KNBS does their household studies on income & poverty levels, electricity and LPG use, something does not add up with our numbers. 80% of our kerosene is not going to light households but to mix with petrol and diesel. The upside, once the bill is signed, now you can fuel anywhere without worrying about the quality of fuel. Ok, I'll concede I didn't know the extent of fuel adulteration, but still the optics are that this will hit hardest the lowest end of society. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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shocks wrote:Obi 1 Kanobi wrote:hardwood wrote:Quote:9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions How will the houses be allocated since its very unfair to pay for someone else's house while you do not have one. This is a very contestable deduction especially after the CS said you can apply to be refunded if you don't get a house. Does this mean people who don't want govt houses should from the onset not pay, coz I am already struggling with my mortgage na sitaki nyumba ya serikali. Soma the document, you can only withdraw your funds after 15yrs of contribution or at retirement, So its simply an additional pension for those who will don't get housing? I still think its contestable, if its not a tax, then what is it, sounds to me like the govt borrowing from the public? "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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hardwood wrote:Quote:9.Housing Development Fund tax to be paid by the employee at 1.5% and employer at 1.5% of the monthly basic salary. Penalty of 5% for employer who fail to submit the contributions How will the houses be allocated since its very unfair to pay for someone else's house while you do not have one. We saw NYS Season 1,2 and 3. Now its Housing development fund where tenders have already being issued for money to line people's pockets. Amount of money will be in twenty's of billions Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Obi 1 Kanobi wrote:FRM2011 wrote:Obi 1 Kanobi wrote:hardwood wrote:Ohulu proposals... Quote: 10.Adulteration levy on kerosene at the rate of KShs 18 per litre. Diesel and Kerosene to cost the same to end adulteration
This government has no clue of what its doing, why tax the same person over and over, the majority of kenyans remain untaxed as they are farmers and small traders, they may not make as much money on average but they sure do leave a better life than the teacher, watchman, office cleaner, messenger who is constantly taxed because the govt is too lazy to develop a tax system that will capture the entire population. The Sh 18 kerosene adulteration tax is simply just evil. its a transfer of the VAT from motorists to the poorest in society and in urban areas who use stoves to cook and lamps to light The govt needs to be smarter ama people will just give up and quit trying to work harder, whats the point anyway if the govt takes all your income and gives you nothing in return. I just made a conscious decision to use return to cash transactions. On this one i beg to differ. ERC did a study using Tanzania's experiment on the same. Truth is we have a disproportionate number of "kerosene users". We also have a huge fuel adulteration problem. So huge that Burundi and Rwanda have since stopped importing fuel through Kenya. When Tanzania did the same by raising the price of kerosene, the "usage" dropped by almost 80%. When KNBS does their household studies on income & poverty levels, electricity and LPG use, something does not add up with our numbers. 80% of our kerosene is not going to light households but to mix with petrol and diesel. The upside, once the bill is signed, now you can fuel anywhere without worrying about the quality of fuel. Ok, I'll concede I didn't know the extent of fuel adulteration, but still the optics are that this will hit hardest the lowest end of society. ALternatively they could have reduced diesel to match the price of kerosene. That adulteration levy is for "revenue" support Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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80% of kenyans live in the rural areas and use firewood or charcoal for cooking.
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President Uhuru Kenyatta 2nd Term - 2017/2022
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