wazua Wed, Mar 18, 2026
Welcome Guest Search | Active Topics | Log In

19 Pages«<1011121314>»
Impact of 30% rental income tax on housing development in Kenya
Options
Previous Topic · Next Topic
itz
#111 Posted : Saturday, June 16, 2012 1:31:49 PM
Rank: Member

Joined: 3/20/2009
Posts: 348
Ali Baba wrote:
ITZ:Even in kenya you itemize.Please familiarize yourself with Income tax Act cap 470.In any case,rental income tax is not new.I don't know why we are arguing over this.Compliance is necessary to prevent kenya going the Greece way!!The bigger the govt,the more the revenue is required.Come on,pay your taxes and I pay mine and we will not go the Greece way.Talking of US and lack of VAT,what a hypocrisy! USA needs VAT more than any other country in the world.Their deficit is frightening.Is that what you want?? Pay up,rental income was taxable even in 1963.>>>Check Cap 470.



@Alibaba.That is the problem right there.Kenya is overtaxed and the money is not being used for the right purposes.Yes Kenya is headed the Greece/European way where all they do is increase taxes,Grow government and public debt while choking the private sector.A 30% tax on rental income is prohibitive.
I want smaller effective govt which i know we will never get because we already embarked on this new county system which also means yearly property taxes are on the way.
And for the good old US these guyz are smarter than you think.By 2020 US will be a net exporter of gas(they are the saudi of natural gas) and Oil and am sure u know what that means.Their efficiency in manufucturing and production will be amazing.Dont listen to the noise about deficit remember they have the world reserve currency and they can play with that too.
Back to top
  |
Ali Baba
#112 Posted : Saturday, June 16, 2012 4:34:39 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
ITZ:I agree with you on US,but about "30% tax on rental income",that reference is a misnomer.It gives an impression like 30% tax is on rental income only.No.30% tax is the maximum Kenyan tax rate and also corporate tax.Is it high? Yes,maybe they should reduce it 25%.But the problem is that clause on gender and 2/3 ratio will be the achilles heel for the kenyan taxpayer.Nominating women MPs until the gender ratio is reached is meaningless and will make kenyan taxpayers have so many MPs.Its unbelievable.But the taxes...there is nothing wrong with taxes:they are a necessary evil.
Back to top
  |
For Sport
#113 Posted : Saturday, June 16, 2012 6:43:08 PM
Rank: Veteran

Joined: 12/23/2010
Posts: 1,229
Ali Baba wrote:
ARCHITECT:Njiraini's provision for an enabling environment does not include tax evasion which is illegal.Please read the income tax act cap 470.

Lets not confuse tax evasion and tax avoidance
Back to top
  |
Ali Baba
#114 Posted : Saturday, June 16, 2012 6:57:38 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
For Sport:>>There is no such confusion.To avoid tax,keep your money under your pillow--don't invest it.
Back to top
  |
GGK
#115 Posted : Saturday, June 16, 2012 7:08:03 PM
Rank: Member

Joined: 11/21/2006
Posts: 608
Location: Ruiru
The arguments here are an amazing amalgamation of misinformation. If you borrowed money to invest in manufacturing and you made a profit, at the end of the year you'll pay 30% tax on the profits you make.
Why should it be different when you invest the money on rental property? Landlords simply have to keep books of account and expense the interests [& other administrative costs] they incur in running their rental property business.

Tulipe ushuru tujitegemea.
"..I am because we are. "― Ubuntu, Umtu,
Back to top
  |
kaifastus
#116 Posted : Saturday, June 16, 2012 8:03:16 PM
Rank: Member

Joined: 8/17/2011
Posts: 207
Location: humu humu
The New constitution is a 'fuel guzzler'. Whether or not we shall get quality service I don't know. You asked for it, let's stop whining and watch.
Back to top
  |
youcan'tstopusnow
#117 Posted : Saturday, June 16, 2012 8:12:34 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
nakujua wrote:
alma wrote:

Next is taxation on capital gains. That to me is the reason why Kenya will never ever become developed however many konzas we build. Hoarding has never been good for the economy. Now here is a country that each and everyone in the property industry is hoarding.

That's my opinion.


true,
hawa speculators ni wengi sana


nakujua, would you then also advocate for capital gains tax on the stock market too? Huko, "speculators" ndio wamejaa kabisa. Ama nimedanganya?smile

http://en.wikipedia.org/...Capital_gains_tax#Kenya
GOD BLESS YOUR LIFE
Back to top
WWW
  |
For Sport
#118 Posted : Saturday, June 16, 2012 9:24:01 PM
Rank: Veteran

Joined: 12/23/2010
Posts: 1,229
Ali Baba wrote:
For Sport:>>There is no such confusion.To avoid tax,keep your money under your pillow--don't invest it.

actually waiting for the next infrastructure bond. Pretty sure it will be tax free and a painless 12% return. T/bills meanwhile. Withholding tax at just 15%. Dont see why i'd struggle justifying books for a business. Also consider that with rental income, not all your expenses will be 'allowable deductions' for tax purposes
Back to top
  |
kangi
#119 Posted : Saturday, June 16, 2012 9:52:46 PM
Rank: Member

Joined: 7/23/2009
Posts: 526
itz wrote:
Ali Baba wrote:
ITZ:Even in kenya you itemize.Please familiarize yourself with Income tax Act cap 470.In any case,rental income tax is not new.I don't know why we are arguing over this.Compliance is necessary to prevent kenya going the Greece way!!The bigger the govt,the more the revenue is required. Pay up,rental income was taxable even in 1963.>>>Check Cap 470.



@Alibaba.That is the problem right there.Kenya is overtaxed and the money is not being used for the right purposes.Yes Kenya is headed the Greece/European way where all they do is increase taxes,Grow government and public debt while choking the private sector.A 30% tax on rental income is prohibitive.
I want smaller effective govt which i know we will never get because we already embarked on this new county system which also means yearly property taxes are on the way.
And for the good old US these guyz are smarter than you think.By 2020 US will be a net exporter of gas(they are the saudi of natural gas) and Oil and am sure u know what that means.Their efficiency in manufucturing and production will be amazing.Dont listen to the noise about deficit remember they have the world reserve currency and they can play with that too.


I remember watching the NTV news last Friday night when they alluded to Kenya being behind the east african states where I dont remember whcih country was taxed at 40%. Just afraid that gova may decide to catch up.Pray Pray
Accept no one's definition of your life; define your life.
Back to top
  |
Ali Baba
#120 Posted : Saturday, June 16, 2012 10:09:20 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
For Sport>>>That is what is called choice.Every investor is free to invest where one deems fit.That is why you find that investors are buying shares at Eveready,etc.And when one guy is selling,another one is buying.While that maybe the "greater fool" theory,all of us think differently and respond to issues differently.That is why when you will be buying TBills,a maasai will be buying cows! Get it?Happy investing!! We need investors in all categories--from Infrastructure bonds,to stocks,to cows.....
Back to top
  |
19 Pages«<1011121314>»
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 © 2026 Wazua.co.ke. All Rights Reserved.