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Thank You KRA!!
GenghisCapitalLtd
#1 Posted : Monday, November 14, 2011 1:23:54 PM

Rank: Bona-fide

Joined: 11/2/2011
Posts: 191
Location: Nairobi
KRA have heard the people's cry of rising cost of living due to the unbearable 18.9% inflation. The fact that borrowing has become expensive makes matters even worse. KRA have decided to review their tax brackets (last time this was done was in 2005) with the results released in July 2012. Their intention is to increase Kenyan's disposable incomes and potentially reduce the pressure on employers. I would like your views on this; is this a welcome solution? Why did it take too long to review the tax brackets? Frankly I am glad, just need to persevere for the next few months Sad .
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“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.” Steve Jobs,iGenius
Jamani
#2 Posted : Monday, November 14, 2011 1:34:45 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
GenghisCapitalLtd wrote:
KRA have heard the people's cry of rising cost of living due to the unbearable 18.9% inflation. The fact that borrowing has become expensive makes matters even worse. KRA have decided to review their tax brackets (last time this was done was in 2005) with the results released in July 2012. Their intention is to increase Kenyan's disposable incomes and potentially reduce the pressure on employers. I would like your views on this; is this a welcome solution? Why did it take too long to review the tax brackets? Frankly I am glad, just need to persevere for the next few months Sad .


Before I also say thank you or give my thoughts, what are the proposed changes/reviews?
GenghisCapitalLtd
#3 Posted : Monday, November 14, 2011 2:04:25 PM

Rank: Bona-fide

Joined: 11/2/2011
Posts: 191
Location: Nairobi
Jamani wrote:
GenghisCapitalLtd wrote:
KRA have heard the people's cry of rising cost of living due to the unbearable 18.9% inflation. The fact that borrowing has become expensive makes matters even worse. KRA have decided to review their tax brackets (last time this was done was in 2005) with the results released in July 2012. Their intention is to increase Kenyan's disposable incomes and potentially reduce the pressure on employers. I would like your views on this; is this a welcome solution? Why did it take too long to review the tax brackets? Frankly I am glad, just need to persevere for the next few months Sad .


Before I also say thank you or give my thoughts, what are the proposed changes/reviews?

Deliberations are ongoing but the big picture is they want to make sure not too many people are caught up in the 30% tax bracket which has a floor of 38K therefore they want to increase the maximum non-taxed income to above the current 13K. I'm seriously crossing my fingers Pray
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“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.” Steve Jobs,iGenius
Foreman
#4 Posted : Monday, November 14, 2011 2:09:34 PM
Rank: Member

Joined: 11/18/2010
Posts: 194
Location: Kenya
http://www.businessdaily...4/-/cp5flo/-/index.html

Treasury has been keen to raise the minimum monthly taxable income to Sh18,000 and raise the maximum cap that attracts the maximum tax rate of 30 per cent to Sh60,000.

Lakini some counterproductive proposals are on the way for VAT..
Mainat
#5 Posted : Monday, November 14, 2011 2:27:47 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
I highly doubt this will be a one way bet unless Muigai has lost it completely. The right hand will give and the left hand will take...
Sehemu ndio nyumba
Cde Monomotapa
#6 Posted : Monday, November 14, 2011 2:44:07 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Mainat wrote:
I highly doubt this will be a one way bet unless Muigai has lost it completely. The right hand will give and the left hand will take...

via VAT smile
Tommy
#7 Posted : Monday, November 14, 2011 5:01:29 PM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
Cde Monomotapa wrote:
Mainat wrote:
I highly doubt this will be a one way bet unless Muigai has lost it completely. The right hand will give and the left hand will take...

via VAT smile

VAT has been known to be the best way of collecting tax as it covers all irrespective of their income.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
jerry
#8 Posted : Monday, November 14, 2011 6:09:51 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
@GenghisCapitalLtd, I also wonder why it took this long or is it political targetting to benefit UK. If not so why not have the changes from Jan 2012 and not Jan 2013!? O'wise it's a welcome move but we are not all that patient.
The opposite of courage is not cowardice, it's conformity.
Cde Monomotapa
#9 Posted : Monday, November 14, 2011 6:16:36 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Tommy wrote:
Cde Monomotapa wrote:
Mainat wrote:
I highly doubt this will be a one way bet unless Muigai has lost it completely. The right hand will give and the left hand will take...

via VAT smile

VAT has been known to be the best way of collecting tax as it covers all irrespective of their income.

U r right on the money...
Lolest!
#10 Posted : Monday, November 14, 2011 6:44:54 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
I expected the opposite from the govt. With increased govt expenditure to cater for a more complicated govt structure(county govts, 2 parliament houses etc), I doubt this will be implemented.
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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