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President Uhuru Kenyatta 2nd Term - 2017/2022
KulaRaha
#161 Posted : Wednesday, September 19, 2018 8:13:11 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
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
FRM2011
#162 Posted : Wednesday, September 19, 2018 9:02:49 AM
Rank: Elder


Joined: 11/5/2010
Posts: 2,459
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.
kaka2za
#163 Posted : Wednesday, September 19, 2018 10:11:44 AM
Rank: Elder


Joined: 10/3/2008
Posts: 4,057
Location: Gwitu
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)
hardwood
#164 Posted : Wednesday, September 19, 2018 11:34:12 AM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
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
Angelica _ann
#165 Posted : Wednesday, September 19, 2018 11:51:55 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
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
simonkabz
#166 Posted : Wednesday, September 19, 2018 11:58:47 AM
Rank: Elder


Joined: 3/2/2007
Posts: 8,776
Location: Cameroon
TULIA.........UFUNZWE!
Obi 1 Kanobi
#167 Posted : Wednesday, September 19, 2018 2:04:21 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
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
hardwood
#168 Posted : Wednesday, September 19, 2018 2:41:59 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
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.
Obi 1 Kanobi
#169 Posted : Wednesday, September 19, 2018 3:44:55 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
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
T-Bag
#170 Posted : Wednesday, September 19, 2018 3:59:59 PM
Rank: Member


Joined: 9/25/2008
Posts: 510
Court declares Finance Bill illegal
I AM trust in GOD, I AM belief in THYSELF
murchr
#171 Posted : Wednesday, September 19, 2018 4:08:52 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
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
.
2012
#172 Posted : Wednesday, September 19, 2018 4:58:31 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
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
:)
2012
#173 Posted : Wednesday, September 19, 2018 5:04:45 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
President Uhuru Kenyatta on stage one of lung cancer

Just seen this link.

BBI will solve it
:)
FRM2011
#174 Posted : Wednesday, September 19, 2018 5:14:57 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,459
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.
shocks
#175 Posted : Wednesday, September 19, 2018 5:29:23 PM
Rank: Member


Joined: 3/15/2009
Posts: 359
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,
Obi 1 Kanobi
#176 Posted : Wednesday, September 19, 2018 5:35:26 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
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
Obi 1 Kanobi
#177 Posted : Wednesday, September 19, 2018 5:37:30 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
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
Ericsson
#178 Posted : Thursday, September 20, 2018 8:29:34 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
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
Ericsson
#179 Posted : Thursday, September 20, 2018 8:31:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
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
hardwood
#180 Posted : Thursday, September 20, 2018 9:10:24 AM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
80% of kenyans live in the rural areas and use firewood or charcoal for cooking.
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