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mwania		#11 Posted : Tuesday, August 09, 2016 4:31:26 PM
Rank: Member Joined: 10/29/2007 Posts: 76		Othelo, I know and that is what should be the case, but I can bet that the motivation is also to line somebody's pockets... and I know this.. they will audit you and when they find that you have a tax liability of Kshs. 600,000, they will ask you to give them Kshs. 500,000 and then pay Kshs. 100,000 to KRA. If you do not play ball, the extortionists will blackmail you to hell.
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sparkly		#12 Posted : Wednesday, August 10, 2016 7:50:25 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		mwania wrote: Othelo, I know and that is what should be the case, but I can bet that the motivation is also to line somebody's pockets... and I know this.. they will audit you and when they find that you have a tax liability of Kshs. 600,000, they will ask you to give them Kshs. 500,000 and then pay Kshs. 100,000 to KRA. If you do not play ball, the extortionists will blackmail you to hell. Why don't you just withhold the tax? It's not your tax anyway and does not increase your cost. it's the tax of the contractor/ architect. Withholding and paying is a very simple process, I can give you my email if you want assistance. Life is short. Live passionately.
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sparkly		#13 Posted : Wednesday, August 10, 2016 7:58:26 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Impunity wrote: sparkly wrote: You got to differentiate between personal and corporate taxation. If the business man is a director in his own company, bonus is a company expense but an income to him. Company will deduct the expense from its income b4 taxing. The business man will however pay personal tax at 30%. For dividends the company cannot deduct as an expense, which means the income is already taxed on company at 30%. the dividend receiver is further taxed at 5%but the director does not pay further tax. If the company is a one man show, then its better to pay the bonus Can someone confirm if the with holding tax on dividend is still 5%? I underheard that the Jubilee gaament has increased it to 15% in order to collect some money which was missed with the suspension of the capital gain tax. Not true. still 5℅. 10℅ for non East Africans Anyone? Life is short. Live passionately.
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Swenani		#14 Posted : Wednesday, August 10, 2016 9:51:35 AM
Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum		mwania wrote: I have been informed that KRA is writing to all County Planning offices requesting for all plans approved from last year including the name of client, title deed number, approval date, architect name, etc. Further, they are visiting building sites asking whether witholding tax was paid for architect's fees, structural engineer.. etc Is it true? If it is true, then it might be a sign that our Government has serious revenue shortfalls. No our gaarment is not having revenue shortfalls, they are only tightning tax loopholes If Obiero did it, Who Am I?
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The Great		#15 Posted : Saturday, September 10, 2016 5:16:01 AM
Rank: Member Joined: 9/9/2015 Posts: 233		That timing raises eyebrows "Buy when there's blood in the streets, even if the blood is your own."
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