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Paying Chinese debt
Rank: Elder Joined: 8/16/2011 Posts: 2,296
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Kenya can still pay 20% of the debt with China by levying import duty on Chinese goods that enter Kenya as dumping.
This levy can be got from items as phones and accessories, TVs and accessories, Computers and accessories, cosmetic products, hardware that are locally available, shoes and clothing, and finally foodstuffs.
If this import duty or part of it is kept specifically to pay the debt we can end up somewhere.
Govt must seal all routes where these goods come from.
The best Business in Kenya by Kenyans and foreigners is to import anything without control thereby helping China and killing Kenyan industries.
Why should we pay Loans from our pockets and not use the money we charge chinese for selling their products to us. We may seem boiled and must do it smart.
Everything now is from China, where does import duty paid by China go to?
How much is that Chinese import duty per year and why it is not being used to pay for Chinese loans to us?
Alibaba came to sell his products not to preach business to Kenyans.
India may as well fall in same line if we have loans from them.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Realtreaty wrote:Kenya can still pay 20% of the debt with China by levying import duty on Chinese goods that enter Kenya as dumping.
This levy can be got from items as phones and accessories, TVs and accessories, Computers and accessories, cosmetic products, hardware that are locally available, shoes and clothing, and finally foodstuffs.
If this import duty or part of it is kept specifically to pay the debt we can end up somewhere.
Govt must seal all routes where these goods come from.
The best Business in Kenya by Kenyans and foreigners is to import anything without control thereby helping China and killing Kenyan industries.
Why should we pay Loans from our pockets and not use the money we charge chinese for selling their products to us. We may seem boiled and must do it smart.
Everything now is from China, where does import duty paid by China go to?
How much is that Chinese import duty per year and why it is not being used to pay for Chinese loans to us?
Alibaba came to sell his products not to preach business to Kenyans.
India may as well fall in same line if we have loans from them.
A very good idea but here are the main challenges. 1. You will be punishing the end consumer who is your citizen because the cost will be fully passed on to them and there's really no fair substitute to their products. Chinese products marketing concept is overly successful mainly because it targets the lower middle class and below. Of course they have high end products for the sake of inclusivity but that's not where they make their money. 2. The Chinese will take it as an anti-competitive act in bad faith and they know we need them more than they need us. We know they are also more experienced negotiators than us plus they will be negotiating from a position of strength.
BBI will solve it :)
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Rank: Elder Joined: 7/22/2008 Posts: 2,702
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It is impossible to beat China in manufacturing. We can try the duty thing kidogo but my main concentration would be on things that we have that Chinese want. Unfortunately we have been poisoned by Mzungus to our own detriment. Chinese are 1.4 billion people and for some reason they love weird things like Rhino horns, elephant tusks etc. Na sisi wajinga kwa sababu mzungu amesema hii biashara ni mbaya we burn ivory so as to destroy the trade. Hii ni ujinga ya aina gani. Someone is willing to pay money for ivory to increase his libido or whatever they use it for na sisi tunachoma. We have things that these people need and they have money to pay. We should be concentrating on these things.
These are areas I would focus on:
Punda farming: The Chinese somehow love donkey hides for I don't know what. Donkeys are easy to keep and there is two thirds of the country that is semi arid where these things can survive. Instead of wasting money trying to attract stingy chinese tourists let us develop and gain the highest price for what we already have. Let us build a brand in China so that they know that the highest quality donkey whatever they like is Kenya. Zebras are also not very different from donkeys and we should develop a market for them. These things just roam about freely and if there is a market they can be sustainably harvested.
There are farmers in Murang'a who are fighting with monkeys every day as they invade their shambas. Let us turn these tragedies into opportunities. It is illegal to kill these things because of stupid colonial laws. Repeal those laws and allow people to kill and farm them. The Chinese will eat anything and I am sure will find those ones from Aberdares very tasty. Same things with roaming dogs.
Trade is about supply and demand. Let us find what we have that the Chinese need and let us provide it. Manufacturing, hatuwezi toboa.
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Rank: Member Joined: 3/14/2012 Posts: 577 Location: Nairobi Kenya
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Kusadikika wrote:It is impossible to beat China in manufacturing. We can try the duty thing kidogo but my main concentration would be on things that we have that Chinese want. Unfortunately we have been poisoned by Mzungus to our own detriment. Chinese are 1.4 billion people and for some reason they love weird things like Rhino horns, elephant tusks etc. Na sisi wajinga kwa sababu mzungu amesema hii biashara ni mbaya we burn ivory so as to destroy the trade. Hii ni ujinga ya aina gani. Someone is willing to pay money for ivory to increase his libido or whatever they use it for na sisi tunachoma. We have things that these people need and they have money to pay. We should be concentrating on these things.
These are areas I would focus on:
Punda farming: The Chinese somehow love donkey hides for I don't know what. Donkeys are easy to keep and there is two thirds of the country that is semi arid where these things can survive. Instead of wasting money trying to attract stingy chinese tourists let us develop and gain the highest price for what we already have. Let us build a brand in China so that they know that the highest quality donkey whatever they like is Kenya. Zebras are also not very different from donkeys and we should develop a market for them. These things just roam about freely and if there is a market they can be sustainably harvested.
There are farmers in Murang'a who are fighting with monkeys every day as they invade their shambas. Let us turn these tragedies into opportunities. It is illegal to kill these things because of stupid colonial laws. Repeal those laws and allow people to kill and farm them. The Chinese will eat anything and I am sure will find those ones from Aberdares very tasty. Same things with roaming dogs.
Trade is about supply and demand. Let us find what we have that the Chinese need and let us provide it. Manufacturing, hatuwezi toboa. Very interesting...definitely food for thought. Before I die - i will touch the sky!!
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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They should be allowed to train local brewers. I suspect that was ethanol they had distilled not methanol...
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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China Loan payment jumps from 31 to 71B the 5yr grace period is over. Prepare yourselves for tougher times. Meanwhile, GOK still spends 4B in tea and biscuits Business Daily wrote:Treasury releases Sh10 billion to China’s Exim Bank as amount owed to lender jumps 130pc to Sh71.4 billion. "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: 12/7/2012 Posts: 11,908
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murchr wrote:China Loan payment jumps from 31 to 71B the 5yr grace period is over. Prepare yourselves for tougher times. Meanwhile, GOK still spends 4B in tea and biscuits Business Daily wrote:Treasury releases Sh10 billion to China’s Exim Bank as amount owed to lender jumps 130pc to Sh71.4 billion. We have the resources, we will pay - just increase taxes of betting, beer, cigarettes, airtime & financial transactions. We are good to go. 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: Veteran Joined: 7/3/2007 Posts: 1,634
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murchr wrote:China Loan payment jumps from 31 to 71B the 5yr grace period is over. Prepare yourselves for tougher times. Meanwhile, GOK still spends 4B in tea and biscuits Business Daily wrote:Treasury releases Sh10 billion to China’s Exim Bank as amount owed to lender jumps 130pc to Sh71.4 billion. This loan program was not well thought out. I hope Yatani is already renegotiating the repayment terms. Otherwise this is the money we should be putting into building the export manufacturing and other industrial parks along the SGR. Otherwise how will it pay for itself? Through imports? "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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How is the "patriotism tax" going? "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: 12/7/2012 Posts: 11,908
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murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! 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: 2/26/2012 Posts: 15,980
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Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. "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: 12/7/2012 Posts: 11,908
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murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! 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: Member Joined: 2/15/2018 Posts: 428
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Kusadikika wrote:It is impossible to beat China in manufacturing. We can try the duty thing kidogo but my main concentration would be on things that we have that Chinese want. Unfortunately we have been poisoned by Mzungus to our own detriment. Chinese are 1.4 billion people and for some reason they love weird things like Rhino horns, elephant tusks etc. Na sisi wajinga kwa sababu mzungu amesema hii biashara ni mbaya we burn ivory so as to destroy the trade. Hii ni ujinga ya aina gani. Someone is willing to pay money for ivory to increase his libido or whatever they use it for na sisi tunachoma. We have things that these people need and they have money to pay. We should be concentrating on these things.
There are farmers in Murang'a who are fighting with monkeys every day as they invade their shambas. Let us turn these tragedies into opportunities. It is illegal to kill these things because of stupid colonial laws. Repeal those laws and allow people to kill and farm them. The Chinese will eat anything and I am sure will find those ones from Aberdares very tasty. Same things with roaming dogs.
Trade is about supply and demand. Let us find what we have that the Chinese need and let us provide it. Manufacturing, hatuwezi toboa. So Mwafrika should not be concerned with Rhinos going extinct?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words "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: 12/7/2012 Posts: 11,908
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murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words So how is this tax supposed to be paid? 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: 2/26/2012 Posts: 15,980
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Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words So how is this tax supposed to be paid? Payments. Loans/interest are paid in installments "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: 12/7/2012 Posts: 11,908
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murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words So how is this tax supposed to be paid? Payments. Loans/interest are paid in installments KRA will update its performance during quarterly briefing _ April 2020. Tulipe ushuru. 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: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words Instalment payments are no longer there for corporate tax?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Lolest! wrote:murchr wrote:Angelica _ann wrote:murchr wrote:Angelica _ann wrote:murchr wrote:How is the "patriotism tax" going? 1st installment is due next month, 9th February. Relax, kila mtu alipe tax chake!!! Tax siku hizi iko na installment? Seems like you have no idea of what am talking about Quote:KRA moved to implement the controversial three per cent Turnover Tax (TOT) targeting 2.5 million businesses in the informal sector. The new tax takes effect from January 1, 2020.
A turnover tax is charged on total sales and does not factor in other costs associated with running the business.
It is one of the easiest taxes for any authority to levy, given that only one calculation is required to know how much tax one must pay.
That is not all. As you prepare to get your business licence from your county government, you will be expected to pay an extra 15 per cent of the permit fees to KRA as presumptive tax.
This means that if your annual business licence fee is Sh10,000, then you should be prepared to top this up by Sh1,500 for the taxman.
Kenyans are up in arms after the taxman put up a notice on Friday asking businessmen to take the action as a ''patriotic duty'' as it puts to life the tax measures in the Finance Act 2019. I know what you are talking about, niko kwa jua kali boss in Homa Bay & I also follow Jubilee missteps closely. The first payment date of this tax is 9th February,2020. Ama what are you arguing about? S So as at now we cannot make an assessment now and tell how the tax is doing. Wait!!! Plus many taxes in Kenya are paid in installment... Monthly or quarterly. Kila mtu alipe ushuru kiwangu chake!!! Taxes are not paid in installments You confused the whole conversation by misusing words Instalment payments are no longer there for corporate tax? Wachana na @muchrc, installment tax is still there for corporates. Even WT is installment tax If Obiero did it, Who Am I?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nikubaya. Road side declarations ain't helping. Tulipe tu Bus daily wrote:
The National Treasury is under pressure from the International Monetary Fund (IMF) to raise the prices of basic goods by at least 16 percent in an effort to cut budget deficit and tame public borrowing.
The multilateral financier says the 16 percent value added tax that the government has scrapped on ‘sensitive’ goods such as bread, cooking gas, maize and wheat flour has significantly contributed to collection shortfalls.
"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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