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Tax exempt entreprises
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The Great
#1 Posted : Tuesday, April 26, 2016 12:31:54 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
CPAs and tax advisors please help a brother out. What are tax loopholes for Kenyans?
"Buy when there's blood in the streets, even if the blood is your own."
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KulaRaha
#2 Posted : Tuesday, April 26, 2016 12:32:53 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Corruption is tax free.
Business opportunities are like buses,there's always another one coming
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Othelo
#3 Posted : Tuesday, April 26, 2016 12:34:43 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
NGO!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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The Great
#4 Posted : Tuesday, April 26, 2016 12:43:28 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
I misled you. I meant a profit oriented business. And dont say run up the taxes then declare bankrupcy and relaunch in a new name. Soon you run out of friends names to use.
"Buy when there's blood in the streets, even if the blood is your own."
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Swenani
#5 Posted : Tuesday, April 26, 2016 12:44:56 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
KulaRaha wrote:
Corruption is tax free.

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
If Obiero did it, Who Am I?
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The Great
#6 Posted : Tuesday, April 26, 2016 12:46:53 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
I have seen corruption wipe out all profits of a project. It even felt like the owner was a lowly paid employee of the officials offering the tenders. And blackmail just goes against my grain.
"Buy when there's blood in the streets, even if the blood is your own."
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Swenani
#7 Posted : Tuesday, April 26, 2016 12:46:55 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
The Great wrote:
I misled you. I meant a profit oriented business. And dont say run up the taxes then declare bankrupcy and relaunch in a new name. Soon you run out of friends names to use.


Why do you want to avoid/evade paying taxes?
If Obiero did it, Who Am I?
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The Great
#8 Posted : Tuesday, April 26, 2016 12:57:30 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
I do a project in 3 weeks with borrowed funds. Wait one year for pay. I pay(deducted at source) 16% VAT on whole value. 3% withholding. Officials must have lunch before they can process payments. This job may require a bribe before the order is issued. After the bribe it may take a year to get the purchase or service order.
"Buy when there's blood in the streets, even if the blood is your own."
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The Great
#9 Posted : Tuesday, April 26, 2016 1:03:31 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
Thats before I pay corporate income tax 30% yearly. And for withdrawals personnal income tax. My industry has few if any receipts so double taxation is commonplace. Add bad debtors to the mix and this cocktail is literally burning my throat
"Buy when there's blood in the streets, even if the blood is your own."
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Swenani
#10 Posted : Tuesday, April 26, 2016 1:05:44 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
The Great wrote:
I do a project in 3 weeks with borrowed funds. Wait one year for pay. I pay(deducted at source) 16% VAT on whole value. 3% withholding. Officials must have lunch before they can process payments. This job may require a bribe before the order is issued. After the bribe it may take a year to get the purchase or service order.


Evading to pay taxes is unethical,unpatriotic and if you believe in the bible, that's a ticket to hell!

Earn your wealth justly!
If Obiero did it, Who Am I?
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