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16% VAT shocker on stocks
Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Museveni wrote:Cde Monomotapa wrote:1.16% times 1.84% = ?? E.g In a stock buy worth 1M, Transaction fee = 1.84% = 18,400 Proposed tax = 16% of 18,400 = 2,944 Total fees = 21,344 i.e transaction fee % now approx 2.134% For stock transactions worth 100,000 Transaction fee = 2.1% = 2,100 Proposed tax = 16% of 2,100 = 336 Total fees = 2,436 i.e transaction fee % now approx 2.436% Good. Now what's there to jump off a cliff for?
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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mlennyma wrote:Ok i sober up, can someone calculate for me the v.a.t for a 1m sale here? For a million bob sale, add 1.7% commission and (16% of the 1.7% as VAT). That is for the 1M sale, your check will be 980,280.00 Receive with simplicity everything that happens to you.” ― Rashi
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Rank: New-farer Joined: 1/29/2013 Posts: 45 Location: South Africa
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With all this taxation, it must mean the government is super broke. The budget deficit has been in the news for a while now. If this government is to implement its promises, we will have to pay for all those promises. If only they were responsible with the little they have. But judging from the recent stories: buying prados, renovating new houses for Kshs 100M, former president asking for Kshs. 700 M etc they may end up misusing all the collected tax. The only option is to invest offshore. The world bank was suggesting that we weaken our currency to make our exports cheaper. If this goes through, you will have more money when you convert your offshore profits to Kshs. Greed is fear.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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NB: The VAT is on the basic broker charge not along with the other levies we've been paying.
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Cde Monomotapa wrote:NB: The VAT is on the basic broker charge not along with the other levies we've been paying. so the vat is even cheaper; vat is on the commission. let them bring it we support the economy and vision 2030. Tyranny will still be there vat or no vat!!! Thieves
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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King G wrote:Cde Monomotapa wrote:NB: The VAT is on the basic broker charge not along with the other levies we've been paying. so the vat is even cheaper; vat is on the commission. let them bring it we support the economy and vision 2030. Tyranny will still be there vat or no vat!!! After teachers strike, next will be health professionals. At that juncture, the stamp duty will be raised to 5/-. Then civil servants will follow, jubilee will pass this to more income tax. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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King G wrote:Cde Monomotapa wrote:NB: The VAT is on the basic broker charge not along with the other levies we've been paying. so the vat is even cheaper; vat is on the commission. let them bring it we support the economy and vision 2030. Tyranny will still be there vat or no vat!!! Indeed. Politicos come and go but we the people of Kenya remain. Let's contribute to nation building.
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Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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Cde Monomotapa wrote:1.16% times 1.84% = ?? Thanks for expounding on this tax. 
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Then guys i was taking it too far,i think if thats the case on the calculation for a 1m sale.,."the devil is not as black as he is painted" "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Btw, this bill was just pushed forward to post elections. Even if it were a CORD gova we'd still be slugging each other here.  #Suckers
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:Btw, this bill was just pushed forward to post elections. Even if it were a CORD gova we'd still be slugging each other here. #Suckers Even B.O won the immigrant vote but voila, immigration reforms ndizo hizo!
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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The optimist wrote:Cde Monomotapa wrote:1.16% times 1.84% = ?? Thanks for expounding on this tax. Acknowledgments CBS @Cde.Monomotapa for demystifying this one. Cheers
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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We want the commision to go down to 1.2% not up to 2.5%! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip!
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Cde Monomotapa wrote:dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip! @Cde any extra charge no matter how small isnt welcomed...exchanges that levy additional taxes take the effort to ensure that the exchange is working like clock work that rules and regulations are followed to the letter,the best practices in corporate governance are followed and investors get value for the money they have invested...if this is done then introduce new taxes... possunt quia posse videntur
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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maka wrote:Cde Monomotapa wrote:dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip! @Cde any extra charge no matter how small isnt welcomed...exchanges that levy additional taxes take the effort to ensure that the exchange is working like clock work that rules and regulations are followed to the letter,the best practices in corporate governance are followed and investors get value for the money they have invested...if this is done then introduce new taxes... Understood and pursuant, this very exchange has moved from paper to elec, T+4 to T+3, made the MSCI & FTSE, now REITS & GEMS. Soon demutualisation (can't wait). I think that's progress with more as we go along & GoK has played a big role in all that.
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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maka wrote:Cde Monomotapa wrote:dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip! @Cde any extra charge no matter how small isnt welcomed...exchanges that levy additional taxes take the effort to ensure that the exchange is working like clock work that rules and regulations are followed to the letter,the best practices in corporate governance are followed and investors get value for the money they have invested...if this is done then introduce new taxes... Exactly!!! ANY ADDITIONAL taxes are not welcome!!! Why? The taxes that we are currently paying are being wasted. Just go through the threads in Club SK! 700m for Kibs office, 100m for DP house, Prados, Residences, MPigs salaries, Grants to buy cars on top of subsidized car loans, house loans etc. etc. Are we supposed to be financing wastage??? The government is not broke. It is being wasteful! Add corruption onto that and you will see how much is going to wastage! Let Uhuruto get rid of wastage and corruption. The money they will save can be put into proper use. If the money is not enough, they can talk to us then! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Cde Monomotapa wrote:maka wrote:Cde Monomotapa wrote:dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip! @Cde any extra charge no matter how small isnt welcomed...exchanges that levy additional taxes take the effort to ensure that the exchange is working like clock work that rules and regulations are followed to the letter,the best practices in corporate governance are followed and investors get value for the money they have invested...if this is done then introduce new taxes... Understood and pursuant, this very exchange has moved from paper to elec, T+4 to T+3, made the MSCI & FTSE, now REITS & GEMS. Soon demutualisation (can't wait). I think that's progress with more as we go along & GoK has played a big role in all that. slow progress...real baby steps. possunt quia posse videntur
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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maka wrote:Cde Monomotapa wrote:maka wrote:Cde Monomotapa wrote:dunkang wrote:We want the commision to go down to 1.2% not up to 2.5%! Then let's save & invest more & politick less and use that as a bargaining chip! @Cde any extra charge no matter how small isnt welcomed...exchanges that levy additional taxes take the effort to ensure that the exchange is working like clock work that rules and regulations are followed to the letter,the best practices in corporate governance are followed and investors get value for the money they have invested...if this is done then introduce new taxes... Understood and pursuant, this very exchange has moved from paper to elec, T+4 to T+3, made the MSCI & FTSE, now REITS & GEMS. Soon demutualisation (can't wait). I think that's progress with more as we go along & GoK has played a big role in all that. slow progress...real baby steps. The increase due to VAT is not so bad, i can live with it if thats the onloy tax that will be added to stocks The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Let them bring it on, we accept and pay. wonder what they will tax next???? Thieves
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