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New Proposed taxes
MatataMingi
#1 Posted : Saturday, June 01, 2024 4:04:00 PM
Rank: Member


Joined: 11/17/2009
Posts: 398
Location: Where everyone knows you
Does anyone have an opinion on the many new taxes, being proposed by the government.
Specially:
- Car circulation tax
- Tax on batteries
Thanks
Monk
#2 Posted : Friday, June 07, 2024 7:30:05 AM
Rank: Member


Joined: 7/1/2009
Posts: 256
MatataMingi wrote:
Does anyone have an opinion on the many new taxes, being proposed by the government.
Specially:
- Car circulation tax
- Tax on batteries
Thanks


Jimmy Wanjigi describes the Car Tax as a "haircut" on an asset that doesn't generate Income/Revenue. Transporters pay Income Tax, so for them, this is double taxation.

Adding taxes on batteries compounds the problem started by the previous gov when it slapped VAT on solar power products. It goes against the pledges to address climate change.
MatataMingi
#3 Posted : Sunday, June 09, 2024 10:22:27 AM
Rank: Member


Joined: 11/17/2009
Posts: 398
Location: Where everyone knows you
Thanks @Monk.
Yes, I agree. I have no idea what the governments real aim is.
deadpoet
#4 Posted : Wednesday, June 12, 2024 3:23:02 PM
Rank: Member


Joined: 9/27/2006
Posts: 503
It is very simple. The government is beholden to the IMF and western lenders. If they want more taxes, that's what the government will do. That's why Ruto has been saying "increase tax as a percentage of GDP by 2027" blah, blah, blah - he probably doesn't understand the nuances, implications, or effects of such a squeeze. No real effort to boost consumption, attract investment, or cut expenditure - just more tax on those already paying, regardless of how counterproductive they are to consumers and businesses. Plus more loans from all the travel!

Read about the structural adjustment programs of the 1980s.

He who pays the piper sets the tune.
XSK
#5 Posted : Monday, June 17, 2024 11:42:51 AM
Rank: Veteran


Joined: 12/8/2009
Posts: 975
Location: Nairobi
Monk wrote:
MatataMingi wrote:
Does anyone have an opinion on the many new taxes, being proposed by the government.
Specially:
- Car circulation tax
- Tax on batteries
Thanks


Jimmy Wanjigi describes the Car Tax as a "haircut" on an asset that doesn't generate Income/Revenue. Transporters pay Income Tax, so for them, this is double taxation.

Adding taxes on batteries compounds the problem started by the previous gov when it slapped VAT on solar power products. It goes against the pledges to address climate change.


KK Administration is bogus. If the finance bill is passed by parliament the next stage will be the courts.
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
VituVingiSana
#6 Posted : Tuesday, June 18, 2024 12:16:27 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,095
Location: Nairobi
deadpoet wrote:
It is very simple. The government is beholden to the IMF and western lenders. If they want more taxes, that's what the government will do. That's why Ruto has been saying "increase tax as a percentage of GDP by 2027" blah, blah, blah - he probably doesn't understand the nuances, implications, or effects of such a squeeze. No real effort to boost consumption, attract investment, or cut expenditure - just more tax on those already paying, regardless of how counterproductive they are to consumers and businesses. Plus more loans from all the travel!

Read about the structural adjustment programs of the 1980s.

He who pays the piper sets the tune.

Why blame the IMF and Western lenders when the prior regime (UhuRuto) went on a borrowing spree for projects even the IMF said no to?

IMF was not in favor of the SGR and yet here we are...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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