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Madness at the NSE
Rank: Member Joined: 7/1/2009 Posts: 247
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Ericsson wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Close of trade Thursday 31 October 2019 SCOM 23.21M 1.19T KCB 15.01M 159.78B EQTY 14.40M 175.48B COOP 2.93M 85.37B KEGN 2.45M 38.25B It's become a frenzy. My days of quietly accumulating dividend stocks at a discount seem to be over. No point in buying any more for now.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Wamekula huu na hasara juu.. Never move with the crowd. Chart your own path. I'm a seller for COOP at KES 17, HF at KES 12, KCB at KES 61, KENRE at KES 5 and KQ at KES 12.68 HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Member Joined: 6/26/2008 Posts: 384
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lochaz-index wrote:xtina wrote:lochaz-index wrote:xtina wrote:I must admit I like seeing the green in banking stocks, feel like offloading a few and re-enter later coz I am not sure this green is gonna last long. Then I buy Centum, Unga and BAT. Is this wise? I do not know . The past one year has been absolutely dreadful so it is good to see some positive change. Anyway, I have bitten the bullet and will sell a few, let me enjoy while it lasts since I am not sure we will see this green again, at least in the near future and early 2020. Ride the wave first then sell once the excitement is fizzling out towards the end of November. Nimetoka (sijauza zote), wale wamebaki all the best and see you end of year/early 2020. That was a sweet journey and reward for being patient for the last one year. Kesho I am also offloading some Safaricom as it seems the results will be good
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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obiero wrote:Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Wamekula huu na hasara juu.. Never move with the crowd. Chart your own path. I'm a seller for COOP at KES 17, HF at KES 12, KCB at KES 61, KENRE at KES 5 and KQ at KES 12.68 One fact that most investors have conveniently chosen to forget/ignore is that banks and most other firms listed in NSE posted very impressive results for HY 2019. All indications are that most firms are back to recovery post 2017 election year. The fundamentals are strong..If you doubt what i am talking about just download a few HY 2019 reports from top firms in KE and see for yourself. It is not only the rate cap at play here. It is many variables such as profitability, good politics(Handshake), Good rains etc. Wazuans should stop being too pessimistic with Kenya economy. The facts are there for all to see Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Fyatu wrote:obiero wrote:Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Wamekula huu na hasara juu.. Never move with the crowd. Chart your own path. I'm a seller for COOP at KES 17, HF at KES 12, KCB at KES 61, KENRE at KES 5 and KQ at KES 12.68 One fact that most investors have conveniently chosen to forget/ignore is that banks and most other firms listed in NSE posted very impressive results for HY 2019. All indications are that most firms are back to recovery post 2017 election year. The fundamentals are strong..If you doubt what i am talking about just download a few HY 2019 reports from top firms in KE and see for yourself. It is not only the rate cap at play here. It is many variables such as profitability, good politics(Handshake), Good rains etc. Wazuans should stop being too pessimistic with Kenya economy. The facts are there for all to see The economy is not doing well overall but banks continue to suck on the weak HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Fyatu wrote:obiero wrote:Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Wamekula huu na hasara juu.. Never move with the crowd. Chart your own path. I'm a seller for COOP at KES 17, HF at KES 12, KCB at KES 61, KENRE at KES 5 and KQ at KES 12.68 One fact that most investors have conveniently chosen to forget/ignore is that banks and most other firms listed in NSE posted very impressive results for HY 2019. All indications are that most firms are back to recovery post 2017 election year. The fundamentals are strong..If you doubt what i am talking about just download a few HY 2019 reports from top firms in KE and see for yourself. It is not only the rate cap at play here. It is many variables such as profitability, good politics(Handshake), Good rains etc. Wazuans should stop being too pessimistic with Kenya economy. The facts are there for all to see Wish you better luck this time. Avoid the monkeys Life is short. Live passionately.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. One day has barely elapsed and Business daily has a headline about how known Kenyan billionaires have gained billions in paper value.........i will say it again. History does not repeat itself but it rhyme. Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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sparkly wrote:Fyatu wrote:obiero wrote:Fyatu wrote:mlennyma wrote:If the cap goes it won't be very easy to get top banks at a discounted price Mark Twain is credited to have said..." History does not repeat itself but it rhymes". Tafakari The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn. Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator). Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho. Wamekula huu na hasara juu.. Never move with the crowd. Chart your own path. I'm a seller for COOP at KES 17, HF at KES 12, KCB at KES 61, KENRE at KES 5 and KQ at KES 12.68 One fact that most investors have conveniently chosen to forget/ignore is that banks and most other firms listed in NSE posted very impressive results for HY 2019. All indications are that most firms are back to recovery post 2017 election year. The fundamentals are strong..If you doubt what i am talking about just download a few HY 2019 reports from top firms in KE and see for yourself. It is not only the rate cap at play here. It is many variables such as profitability, good politics(Handshake), Good rains etc. Wazuans should stop being too pessimistic with Kenya economy. The facts are there for all to see Wish you better luck this time. Avoid the monkeys Once bitten twice shy......the bull is here. I can see that even Uchumi and Home Africa some favourites of wazuans back in the day are also in the green Dumb money becomes dumb only when it listens to smart money
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Rank: Member Joined: 5/2/2018 Posts: 267
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Co-op, Equity, BBK now easing off. Tuesday determines the next direction: if M-Pigs pull a fast one, journey South again; if they Okey the amendment, journy North continues...
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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xtina wrote:lochaz-index wrote:xtina wrote:lochaz-index wrote:xtina wrote:I must admit I like seeing the green in banking stocks, feel like offloading a few and re-enter later coz I am not sure this green is gonna last long. Then I buy Centum, Unga and BAT. Is this wise? I do not know . The past one year has been absolutely dreadful so it is good to see some positive change. Anyway, I have bitten the bullet and will sell a few, let me enjoy while it lasts since I am not sure we will see this green again, at least in the near future and early 2020. Ride the wave first then sell once the excitement is fizzling out towards the end of November. Nimetoka (sijauza zote), wale wamebaki all the best and see you end of year/early 2020. That was a sweet journey and reward for being patient for the last one year. Kesho I am also offloading some Safaricom as it seems the results will be good Am withcha. There's a time for planting and a time for harvesting. If your crop has matured please harvest lest the pests/rodents will come for it and harvest where they dint sow. It's such an irony that I bought into bank stocks when the rate cap came into effect and now I exit when it's about to get lifted If it don't make dollars, it don't make sense
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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Balaa wrote:xtina wrote:lochaz-index wrote:xtina wrote:lochaz-index wrote:xtina wrote:I must admit I like seeing the green in banking stocks, feel like offloading a few and re-enter later coz I am not sure this green is gonna last long. Then I buy Centum, Unga and BAT. Is this wise? I do not know . The past one year has been absolutely dreadful so it is good to see some positive change. Anyway, I have bitten the bullet and will sell a few, let me enjoy while it lasts since I am not sure we will see this green again, at least in the near future and early 2020. Ride the wave first then sell once the excitement is fizzling out towards the end of November. Nimetoka (sijauza zote), wale wamebaki all the best and see you end of year/early 2020. That was a sweet journey and reward for being patient for the last one year. Kesho I am also offloading some Safaricom as it seems the results will be good Am withcha. There's a time for planting and a time for harvesting. If your crop has matured please harvest lest the pests/rodents will come for it and harvest where they dint sow. It's such an irony that I bought into bank stocks when the rate cap came into effect and now I exit when it's about to get lifted Word Lessons you learn along the way! @SufficientlyP
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Balaa wrote:xtina wrote:lochaz-index wrote:xtina wrote:lochaz-index wrote:xtina wrote:I must admit I like seeing the green in banking stocks, feel like offloading a few and re-enter later coz I am not sure this green is gonna last long. Then I buy Centum, Unga and BAT. Is this wise? I do not know . The past one year has been absolutely dreadful so it is good to see some positive change. Anyway, I have bitten the bullet and will sell a few, let me enjoy while it lasts since I am not sure we will see this green again, at least in the near future and early 2020. Ride the wave first then sell once the excitement is fizzling out towards the end of November. Nimetoka (sijauza zote), wale wamebaki all the best and see you end of year/early 2020. That was a sweet journey and reward for being patient for the last one year. Kesho I am also offloading some Safaricom as it seems the results will be good Am withcha. There's a time for planting and a time for harvesting. If your crop has matured please harvest lest the pests/rodents will come for it and harvest where they dint sow. It's such an irony that I bought into bank stocks when the rate cap came into effect and now I exit when it's about to get lifted Superb contrarian play! The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Member Joined: 6/26/2008 Posts: 384
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Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion.
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Rank: Chief Joined: 1/3/2007 Posts: 18,057 Location: Nairobi
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xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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VituVingiSana wrote:xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK!
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Rank: Elder Joined: 12/4/2009 Posts: 10,641 Location: NAIROBI
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whiteowl wrote:VituVingiSana wrote:xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK! After crippling judiciary now comes this. Uhuru kenyatta should just finish his term and go in peace. Remaining duration he can't make any meaningful positive change to the economy Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:whiteowl wrote:VituVingiSana wrote:xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK! After crippling judiciary now comes this. Uhuru kenyatta should just finish his term and go in peace. Remaining duration he can't make any meaningful positive change to the economy 1. The Drunk Emperor knows very well that the Tax Appeals Tribunal (TAT) was not sitting from March 2018 to September this year; 2. The reason for TAT not sitting is because members' terms expired in March 2018 and his Govt didn't Gazette new members for more than an year; 3. His Govt further cut the budget for the judiciary (which includes the quasi judicial tribunals like the TAT); 4. He tried to use DCI to collect taxes from Keroche, Wines of the World etc but court told him it doesn't world like that; 5. He harrased, arrested and prosecuted KRA officers, cases still in the courts but tax collection didn't rise; 6. He is now complaining of backlog at TAT as if he doesn't know who caused it; 7. Let the guy drink his whisky, go for foreign trips then retire as the most underwhelming president in the history of Kenya. Life is short. Live passionately.
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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sparkly wrote:Ericsson wrote:whiteowl wrote:VituVingiSana wrote:xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK! After crippling judiciary now comes this. Uhuru kenyatta should just finish his term and go in peace. Remaining duration he can't make any meaningful positive change to the economy 1. The Drunk Emperor knows very well that the Tax Appeals Tribunal (TAT) was not sitting from March 2018 to September this year; 2. The reason for TAT not sitting is because members' terms expired in March 2018 and his Govt. didn't Gazette new members for more than an year; 3. His Govt further cut the budget for the judiciary (which includes the quasi judicial tribunals like the TAT); 4. He tried to use DCI to collect taxes from Keroche, Wines of the World etc but court told him it doesn't world like that; 5. He harrased, arrested and prosecuted KRA officers, cases still in the courts but tax collection didn't rise; 5. He is now complaining of backlog at TAT as if he doesn't know who caused it; 6. Let the guy drink his whisky, go for foreign trips then retire as the most underwhelming president in the history of Kenya. This is madness. You mean we are hurtling through the skies with no pilot . What a mess
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Rank: Member Joined: 7/1/2009 Posts: 247
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sparkly wrote:Ericsson wrote:whiteowl wrote:VituVingiSana wrote:xtina wrote:Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap
(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit. Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said. The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.
Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion. A connected firm could cripple a competitor. This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK! After crippling judiciary now comes this. Uhuru kenyatta should just finish his term and go in peace. Remaining duration he can't make any meaningful positive change to the economy 1. The Drunk Emperor knows very well that the Tax Appeals Tribunal (TAT) was not sitting from March 2018 to September this year; 2. The reason for TAT not sitting is because members' terms expired in March 2018 and his Govt didn't Gazette new members for more than an year; 3. His Govt further cut the budget for the judiciary (which includes the quasi judicial tribunals like the TAT); 4. He tried to use DCI to collect taxes from Keroche, Wines of the World etc but court told him it doesn't world like that; 5. He harrased, arrested and prosecuted KRA officers, cases still in the courts but tax collection didn't rise; 6. He is now complaining of backlog at TAT as if he doesn't know who caused it; 7. Let the guy drink his whisky, go for foreign trips then retire as the most underwhelming president in the history of Kenya. Damn, you are fearless! Having had a taste of natural law (forget legal law), I could never speak so plainly. Good luck.
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