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KRA finally granted complete access to bank accounts.
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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.
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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
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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.
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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
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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.
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Chaka
#6 Posted : Sunday, November 12, 2017 2:35:35 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
MPESA?
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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
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Angelica _ann
#8 Posted : Sunday, November 12, 2017 2:59:48 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
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
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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
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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.
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