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buy a strong home safe, since govt will tax deposits
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mikanjoroge
#11 Posted : Friday, July 27, 2018 6:32:30 AM
Rank: New-farer

Joined: 6/13/2016
Posts: 47
Location: kenya
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
As much as I detest it, I can stomach the initial robin hood tax of 0.05 on 500,000 and above. But I know this is just KRA's "introductory offer". I am certain that in the next fiscal year, they will either/or: 1.) Reduce the amount to 400K and above transfers to capture more transfers. 2.) Increase the tax from 0.05 to 0.06. They will repeat this process every year, like they do with beer, cigarettes and vehicle taxes. So I just want to organize myself ahead of time. You too will follow. Trust me. MPESA won't be spared either.
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  | | Edit by user: Friday, July 27, 2018 6:33 AM | Reason: Not specified
mnandii
#12 Posted : Friday, July 27, 2018 6:35:11 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax. I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow. This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised. These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly. I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof. Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline. If I transfer money, it is using my own hands. Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.
CASH is king now. I wholly endorse!
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Ali Baba
#13 Posted : Friday, July 27, 2018 1:46:10 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.
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georgegop
#14 Posted : Friday, July 27, 2018 2:52:43 PM
Rank: Member

Joined: 8/30/2010
Posts: 183
Location: Migingo
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?
Don't Work for Money, Let Money Work for You..
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mikanjoroge
#15 Posted : Friday, September 21, 2018 10:34:12 AM
Rank: New-farer

Joined: 6/13/2016
Posts: 47
Location: kenya
Ali Baba wrote:
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.
The day for the safe has arrived. This tax will go up every year by MINIMUM 1-2 %.
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  | | Edit by user: Friday, September 21, 2018 10:36 AM | Reason: Not specified
obiero
#16 Posted : Friday, September 21, 2018 3:36:46 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,321
Location: nairobi
georgegop wrote:
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?
Good question
COOP, IMH, KEGN, KQ, MTNU
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Sober
#17 Posted : Friday, September 21, 2018 3:59:12 PM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
obiero wrote:
georgegop wrote:
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?
Good question
Bitcoin and cryptocurrency in general gives you control over your wealth. Legislation is in the technology, so if you need one to take up cunstory of anything, just give them he keys and credentials to them. Or else they will be lost and the price factored into the existing ones by value and not number.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Wondergirl
#18 Posted : Friday, September 21, 2018 4:21:40 PM
Rank: Member

Joined: 9/12/2009
Posts: 312
mikanjoroge wrote:
Ali Baba wrote:
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.
The day for the safe has arrived. This tax will go up every year by MINIMUM 1-2 %.
Mikan, Please update those of us not in the know...
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Ryko
#19 Posted : Friday, September 21, 2018 6:07:56 PM
Rank: Member

Joined: 5/27/2016
Posts: 274
Location: Pub
if this will be coming in to effect many will need a Strong Safe, wanabiashara kaput!!
I work so I can afford the amount of alcohol required to continue going to work
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2012
#20 Posted : Friday, September 28, 2018 8:27:18 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Dear Customer, In line with the Finance Act 2018, the Excise Duty payable on the fees charged for money transfer services and other fees charged by Banks has increased from 10% to 20% effective 1st July 2018. The Bank will collect the Excise Duty as from 1st July, 2018 and remit it to the Kenya Revenue Authority. For more information call us. Thank you. Ok, I'm not calling them, don't want them to know I don't know. Someone please explain this for me. I received the above sms from my bank. So they'll be taking my 20% of transaction fee for every transfer I make and withdrawals (Atm etc) ama? And these backdated to July 1st,they think they will rob it from whose account?
BBI will solve it :)
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  | | Edit by user: Friday, September 28, 2018 9:34 PM | Reason: Not specified
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