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Income tax payment
Gordon Gekko
#11 Posted : Thursday, May 12, 2011 8:01:58 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
'user' wrote:
Was clever to add terms and conditions apply.Mainat didnt say his source of income.

Just wanted to prepare him incase the income is gross from business manufacturing or offering service which are liable excise duty.


Kindly stop misleading.

If he pays VAT, chances are he also claims VAT - called input tax, therefore the net effect is strictly not 16%.

I'm not aware of any service that has excise duty levied on it.
Gordon Gekko
#12 Posted : Thursday, May 12, 2011 8:04:35 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
muganda wrote:
Rough calculations show PAYE would amount to 293,872/= meaning you'd be left with 71% after tax (considering NSSF, NHIF, relief etc)


NSSF and NHIF are NOT taxes. They are savings and insurance respectively.
jerry
#13 Posted : Thursday, May 12, 2011 8:07:10 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
Gordon Gekko wrote:
'user' wrote:
Was clever to add terms and conditions apply.Mainat didnt say his source of income.

Just wanted to prepare him incase the income is gross from business manufacturing or offering service which are liable excise duty.


Kindly stop misleading.

If he pays VAT, chances are he also claims VAT - called input tax, therefore the net effect is strictly not 16%.

I'm not aware of any service that has excise duty levied on it.

@GG,i thought he clarified it was about employment?
The opposite of courage is not cowardice, it's conformity.
'user'
#14 Posted : Thursday, May 12, 2011 9:02:06 AM
Rank: Veteran

Joined: 12/3/2010
Posts: 1,141
Location: Londokwe
Gordon Gekko wrote:
service which are liable excise duty Kindly stop misleading.



I'm not aware of any service that has excise duty levied on it
.



GG check your safaricom bill if you are on post paid and tell me who is misleading .Ama safaricom sio service ?Kama sio service what do they manufacture? ama ni mabillions in profits smile smile smile
2012 is here.Kenya is Ours.Be Part of The Peace Keeping Mission To Protect Our Motherland.Say No To Violence and Tribal Hatred .If you can read this,wewe ni mtu amesoma, usifikirie kama mtu hajaenda shule .Ni Hayo Tu
mozenrat
#15 Posted : Thursday, May 12, 2011 9:07:52 AM
Rank: Veteran

Joined: 5/18/2008
Posts: 796
@Mainat, your UK figures are inaccurate. Employment income always starts at 20% for anything below GBP 37,400 p.a. Only savings income are subject to the 10% and only if below about GBP 2,500.

The easiest way to estimate your Kenyan taxes is (Salary multiply by 30%) Minus 5,000. The margin of error is about 0.2%. For 1M this comes to about 295,000 per month while the actual figure is 293,872.



@user, you haven't felt taxation until you pay taxes in UK. I wonder why they don't of themselves as communists.
'user'
#16 Posted : Thursday, May 12, 2011 9:22:11 AM
Rank: Veteran

Joined: 12/3/2010
Posts: 1,141
Location: Londokwe
Mozerat, I have no problem paying even 60% if the the tax collected is put into good use(schools hospitals roads and other public goods), not foreign trips , paying bloated cabinet , overpaying Mpigs only to block Parliament buildings sewerage system with Condoms and sh8t.
2012 is here.Kenya is Ours.Be Part of The Peace Keeping Mission To Protect Our Motherland.Say No To Violence and Tribal Hatred .If you can read this,wewe ni mtu amesoma, usifikirie kama mtu hajaenda shule .Ni Hayo Tu
mozenrat
#17 Posted : Thursday, May 12, 2011 11:39:37 AM
Rank: Veteran

Joined: 5/18/2008
Posts: 796
'user' wrote:
Mozerat, I have no problem paying even 60% if the the tax collected is put into good use(schools hospitals roads and other public goods), not foreign trips , paying bloated cabinet , overpaying Mpigs only to block Parliament buildings sewerage system with Condoms and sh8t.



That is where we differ. I have a problem paying anything above 10% tax especially when I know that nearly 80% of the budget goes to recurrent expenditure.. to pay salaries for people who do not produce anything.. New governor, his secretary, his guard at work, his guard at home, his tealady at work, the KYM who rushes his suits to the dhobi... yaani by the time you're done..

Argggh!! I still don't understand how people could have voted for this new constitution...
'user'
#18 Posted : Thursday, May 12, 2011 11:46:41 AM
Rank: Veteran

Joined: 12/3/2010
Posts: 1,141
Location: Londokwe
mozenrat wrote:
'user' wrote:
Mozerat, I have no problem paying even 60% if the the tax collected is put into good use(schools hospitals roads and other public goods), not foreign trips , paying bloated cabinet , overpaying Mpigs only to block Parliament buildings sewerage system with Condoms and sh8t.



That is where we differ. I have a problem paying anything above 10% tax especially when I know that nearly 80% of the budget goes to recurrent expenditure.. to pay salaries for people who do not produce anything.. New governor, his secretary, his guard at work, his guard at home, his tealady at work, the KYM who rushes his suits to the dhobi... yaani by the time you're done..

Argggh!! I still don't understand how people could have voted for this new constitution...


Differ or agree?
Thought we are saying the same thing in different words smile

2012 is here.Kenya is Ours.Be Part of The Peace Keeping Mission To Protect Our Motherland.Say No To Violence and Tribal Hatred .If you can read this,wewe ni mtu amesoma, usifikirie kama mtu hajaenda shule .Ni Hayo Tu
Ric dees
#19 Posted : Thursday, May 12, 2011 12:09:40 PM
Rank: Member

Joined: 3/6/2008
Posts: 632

On a slightly different tangent, would it not be prudent for say any one earning above a net of kshs 200k be charged 40% and the rest 30% and those earning a net of 50k and below be charged 20%.
Anything above 500k should be at 50% (do i hear mps say aye)!!

So my question is would this aleviate the feeling of 'un-equalness' across people earning differently??

The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.
mukiha
#20 Posted : Thursday, May 12, 2011 12:14:45 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
mozenrat wrote:
'user' wrote:
Mozerat, I have no problem paying even 60% if the the tax collected is put into good use(schools hospitals roads and other public goods), not foreign trips , paying bloated cabinet , overpaying Mpigs only to block Parliament buildings sewerage system with Condoms and sh8t.



That is where we differ. I have a problem paying anything above 10% tax especially when I know that nearly 80% of the budget goes to recurrent expenditure.. to pay salaries for people who do not produce anything.. New governor, his secretary, his guard at work, his guard at home, his tealady at work, the KYM who rushes his suits to the dhobi... yaani by the time you're done..

Argggh!! I still don't understand how people could have voted for this new constitution...

NOT true: in the 2010/11 FY, out of the total budget of Sh998.8b, Sh320b (32 per cent) goes towards development and Sh675b (68 per cent) to recurrent expenditure... SOURCE: 2010 budget speech
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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