wazua Sat, Sep 13, 2025
Welcome Guest Search | Active Topics | Log In

3 Pages123>
KRA finally granted complete access to bank accounts.
Options
Previous Topic · Next Topic
the_cabal
#1 Posted : Sunday, November 12, 2017 11:41:31 AM
Rank: New-farer


Joined: 11/20/2015
Posts: 16
Location: Iraq
KRA Commissioner General John Njiraini is on record stating that the taxman would start comparing returns from transaction filings and bank balances. The taxman wants to use your bank data to analyse unreported activities of taxpayers including other sources of incomes, to detect tax fraud, and to score and rank risk profiles.

KRA: We have what it takes to take what you have.
Mganga haagizi Mchicha.
Back to top
WWW
 Report Abusive | Report SPAM
the_scriptor
#2 Posted : Sunday, November 12, 2017 11:50:53 AM
Rank: Hello


Joined: 11/29/2015
Posts: 7
Location: Kenya. Iraq
d'oh! d'oh! . Nitakuwa papa hapa nione likalotokea
Back to top
WWW
 Report Abusive | Report SPAM
the_cabal
#3 Posted : Sunday, November 12, 2017 12:10:55 PM
Rank: New-farer


Joined: 11/20/2015
Posts: 16
Location: Iraq
I think the options are minimal, it's either to comply or go for the offshore accounts. I should think of traveling home now to find out more, am a suspect here now from what the taxman will find out from snooping on me. Sad
Mganga haagizi Mchicha.
Back to top
WWW
 Report Abusive | Report SPAM
winmak
#4 Posted : Sunday, November 12, 2017 1:22:36 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
Naona shida hapa. In their hunger to hit collection targets they might ask to tax you on any incoming cash regardless of the reason... Gifts, debts repayed, bla bla
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
the_cabal
#5 Posted : Sunday, November 12, 2017 2:30:21 PM
Rank: New-farer


Joined: 11/20/2015
Posts: 16
Location: Iraq
Quote:
The taxman has set up a database known as Data Warehouse and Business Intelligence, which offers a single view of a taxpayer's profile, linking them with third-party systems such as banks and utility firms for easier determination of compliance.


Should i embrace mattress banking? Think
Mganga haagizi Mchicha.
Back to top
WWW
 Report Abusive | Report SPAM
Chaka
#6 Posted : Sunday, November 12, 2017 2:35:35 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
MPESA?
Back to top
 Report Abusive | Report SPAM
winmak
#7 Posted : Sunday, November 12, 2017 2:46:41 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
Chaka wrote:
MPESA?


This is the easiest to monitor... They have your ID and PIN ... I suppose they will put a cap above which any amount is flagged for tax purposes
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
Angelica _ann
#8 Posted : Sunday, November 12, 2017 2:59:48 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,927
NSE .....CDSC smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Back to top
 Report Abusive | Report SPAM
Kili
#9 Posted : Sunday, November 12, 2017 3:01:26 PM
Rank: Member


Joined: 12/10/2015
Posts: 103
So called fat cats will derail it
Back to top
 Report Abusive | Report SPAM
the_cabal
#10 Posted : Sunday, November 12, 2017 3:15:59 PM
Rank: New-farer


Joined: 11/20/2015
Posts: 16
Location: Iraq
Chaka wrote:
MPESA?



It's just a matter of time before the telcos cracks up their resistance where they are hiding under the cloud of "private user data".
Mganga haagizi Mchicha.
Back to top
WWW
 Report Abusive | Report SPAM
Speculz
#11 Posted : Monday, November 13, 2017 9:03:23 AM
Rank: Member


Joined: 5/6/2011
Posts: 391
Location: Nairobi
Cryptocurrencies ..
"You can't have everything. Where would you put it?" - Stephen Wright
Back to top
 Report Abusive | Report SPAM
lochaz-index
#12 Posted : Monday, November 13, 2017 10:56:42 AM
Rank: Veteran


Joined: 9/18/2014
Posts: 1,127
Bad move for both the taxman and bankers. Same case for the telcos if the witch hunt is extended to them.
The main purpose of the stock market is to make fools of as many people as possible.
Back to top
 Report Abusive | Report SPAM
maka
#13 Posted : Monday, November 13, 2017 11:20:15 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer
possunt quia posse videntur
Back to top
 Report Abusive | Report SPAM
winmak
#14 Posted : Monday, November 13, 2017 3:31:22 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
obiero
#15 Posted : Monday, November 13, 2017 5:46:02 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,890
Location: nairobi
winmak wrote:
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested

Plus some stocks accumulate value over time. So 1m today could turn into 2m next year

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
Back to top
WWW
 Report Abusive | Report SPAM
Swenani
#16 Posted : Monday, November 13, 2017 6:10:00 PM
Rank: User


Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
obiero wrote:
winmak wrote:
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested

Plus some stocks accumulate value over time. So 1m today could turn into 2m next year


Watu walipe tax, if you have been saving and paying taxes, you can easily prove it.

If your shares gain value, pay capital taxes upon disposal.

If Obiero did it, Who Am I?
Back to top
WWW
 Report Abusive | Report SPAM
obiero
#17 Posted : Monday, November 13, 2017 6:18:53 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,890
Location: nairobi
Swenani wrote:
obiero wrote:
winmak wrote:
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested

Plus some stocks accumulate value over time. So 1m today could turn into 2m next year


Watu walipe tax, if you have been saving and paying taxes, you can easily prove it.

If your shares gain value, pay capital taxes upon disposal.


Exactly

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
Back to top
WWW
 Report Abusive | Report SPAM
maka
#18 Posted : Monday, November 13, 2017 6:27:03 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Swenani wrote:
obiero wrote:
winmak wrote:
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested

Plus some stocks accumulate value over time. So 1m today could turn into 2m next year


Watu walipe tax, if you have been saving and paying taxes, you can easily prove it.

If your shares gain value, pay capital taxes upon disposal.



Hatulipi...
possunt quia posse videntur
Back to top
 Report Abusive | Report SPAM
Jump-steady
#19 Posted : Monday, November 13, 2017 6:31:09 PM
Rank: Veteran


Joined: 12/1/2008
Posts: 1,098
lochaz-index wrote:
Bad move for both the taxman and bankers. Same case for the telcos if the witch hunt is extended to them.


How is that? People will move to mattress banking or what?
Back to top
 Report Abusive | Report SPAM
winmak
#20 Posted : Monday, November 13, 2017 6:52:06 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
Swenani wrote:
obiero wrote:
winmak wrote:
maka wrote:
Angelica _ann wrote:
NSE .....CDSC smile



You still have to explain where you got the cash for the trades...If it doesnt add up they will just take your stocks or bonds....Bummer


Money going to CDS mostly is from a bank account where you already declared if above a million. What I find annoying is u accumulate over years then suddenly taxman wants to know after you have 20 m diligently saved and reinvested

Plus some stocks accumulate value over time. So 1m today could turn into 2m next year


Watu walipe tax, if you have been saving and paying taxes, you can easily prove it.

If your shares gain value, pay capital taxes upon disposal.




Hiyo ilitolewa
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
Users browsing this topic
Guest
3 Pages123>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2025 Wazua.co.ke. All Rights Reserved.