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Does Finance bill introduce Capital gains tax?
gatoho
#1 Posted : Monday, October 08, 2012 3:48:24 AM
Rank: Member


Joined: 1/1/2010
Posts: 511
Location: kandara, Murang'a
The mining industry will also pay more taxes after the House allowed Kenya Revenue Authority to tax proceeds from the sale of property or shares, more so for oil companies, or other firms involved in mining or mineral prospecting.

is this Capital gains or whats the exact meaning?
Foresight..
mlennyma
#2 Posted : Monday, October 08, 2012 6:15:47 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,184
Location: nairobi
I have spotted a 200bob stamp duty whenever i buy shares but its claimed to be refundable may be it will snick non refundable soon.
"Don't let the fear of losing be greater than the excitement of winning."
ChessMaster
#3 Posted : Monday, October 08, 2012 5:05:07 PM
Rank: Elder


Joined: 2/23/2009
Posts: 1,626
Mlennyma,so true. I'm wondering how the government will address the landlords who haven't been paying tax. Could they really start claiming people's properties?
Uncertainty is certain.Let go
King G
#4 Posted : Tuesday, October 09, 2012 8:27:05 AM
Rank: Elder


Joined: 6/20/2012
Posts: 3,855
Location: Othumo
Suntra on their Tangaza trading platform has been charging me Kshs. 200 bob for every order placed regardless of amount or bu/sell. but eventually when the transaction goes through, it has always been reversed. probably they were still testing and are now ready to pounce once the finance bill is signed into law.

now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!
Thieves
guru267
#5 Posted : Tuesday, October 09, 2012 8:35:40 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!


A good example of a foolish statement!
Mark 12:29
Deuteronomy 4:16
King G
#6 Posted : Tuesday, October 09, 2012 8:51:44 AM
Rank: Elder


Joined: 6/20/2012
Posts: 3,855
Location: Othumo
guru267 wrote:
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!


A good example of a foolish statement!


Matusi nayo, but i know i am right, it will finance the retirement package of rais, pm, vp, mps et al, and what do they need it for. who is fooling who?
Thieves
VituVingiSana
#7 Posted : Tuesday, October 09, 2012 9:02:18 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,135
Location: Nairobi
King G wrote:
guru267 wrote:
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!

A good example of a foolish statement!

Matusi nayo, but i know i am right, it will finance the retirement package of rais, pm, vp, mps et al, and what do they need it for. who is fooling who?
@KingG Tuko Pamoja. Hawa ni wizi.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
StatMeister
#8 Posted : Tuesday, October 09, 2012 9:17:14 AM
Rank: Veteran


Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
VituVingiSana wrote:
King G wrote:
guru267 wrote:
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!

A good example of a foolish statement!

Matusi nayo, but i know i am right, it will finance the retirement package of rais, pm, vp, mps et al, and what do they need it for. who is fooling who?
@KingG Tuko Pamoja. Hawa ni wizi.


This is what they do if they cannot operate pyramid schemes?
A bad day fishing is better than a good day at work
mlennyma
#9 Posted : Tuesday, October 09, 2012 9:34:04 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,184
Location: nairobi
@king G i too support your sediments and think you dont deserve the bashing"foolish"is a harsh word which civilized men rarely use.
"Don't let the fear of losing be greater than the excitement of winning."
2012
#10 Posted : Tuesday, October 09, 2012 9:38:31 AM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
ChessMaster wrote:
Mlennyma,so true. I'm wondering how the government will address the landlords who haven't been paying tax. Could they really start claiming people's properties?


Kwani they are backdating?

BBI will solve it
:)
ChessMaster
#11 Posted : Tuesday, October 09, 2012 2:01:01 PM
Rank: Elder


Joined: 2/23/2009
Posts: 1,626
The taxes were due from the beginning.Its just that the masses haven't being paying. Now that puts landlords in a tricky situation because even if you start paying then they can prove that you haven't being paying your taxes. At that point what will the tax man do to such an individual,it's funny because right now I'd be afraid of starting to pay.
Uncertainty is certain.Let go
ChessMaster
#12 Posted : Tuesday, October 09, 2012 2:07:16 PM
Rank: Elder


Joined: 2/23/2009
Posts: 1,626
They've been preaching it all along.Rental income was subject to tax from the onset its just that the masses didn't know or didn't pay.Now the situation is if you start paying your taxes now will they charge or arrest you for not paying taxes in the past because if thats the case so many people won't pay.What do u think 2012?
Uncertainty is certain.Let go
guru267
#13 Posted : Tuesday, October 09, 2012 3:32:30 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
VituVingiSana wrote:
King G wrote:
guru267 wrote:
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!

A good example of a foolish statement!

Matusi nayo, but i know i am right, it will finance the retirement package of rais, pm, vp, mps et al, and what do they need it for. who is fooling who?
@KingG Tuko Pamoja. Hawa ni wizi.


To hear such statements coming out of adults makes me ashamed to be African!

Will vision 2030 pay for itself?? We can't be stuck in the old kenyan mentality! Kwani you think GOK officials can still just walk into KRA and collect funds as they please?!
Mark 12:29
Deuteronomy 4:16
mnandii
#14 Posted : Tuesday, October 09, 2012 4:09:32 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,304
guru267 wrote:
VituVingiSana wrote:
King G wrote:
guru267 wrote:
King G wrote:
now charges will be from atm withdrawal to nse to internet; money for campaigns, thieves!

A good example of a foolish statement!

Matusi nayo, but i know i am right, it will finance the retirement package of rais, pm, vp, mps et al, and what do they need it for. who is fooling who?
@KingG Tuko Pamoja. Hawa ni wizi.


To hear such statements coming out of adults makes me ashamed to be African!

Will vision 2030 pay for itself?? We can't be stuck in the old kenyan mentality! Kwani you think GOK officials can still just walk into KRA and collect funds as they please?!

Somebody is either naive or careless!
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
King G
#15 Posted : Tuesday, October 09, 2012 4:18:00 PM
Rank: Elder


Joined: 6/20/2012
Posts: 3,855
Location: Othumo
@Guru African is racial but since it is not in Kubunja's watchlist i will let it pass.

Let us hope we will be with you in this forum by 2017 and then we exchange notes on development projects so far achieved as we head to mirage 2030. You cant sit your butt down and tell me that there are no substantial likeages in our system!
Thieves
guru267
#16 Posted : Tuesday, October 09, 2012 4:30:33 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
King G wrote:
Let us hope we will be with you in this forum by 2017 and then we exchange notes on development projects so far achieved as we head to mirage 2030. You cant sit your butt down and tell me that there are no substantial likeages in our system!


I will be glad to do so... The development in the next 5 years will be more than Kenya has ever seen and within direct track to 2030..

The problem is some of us may be still dealing from the trauma of Moi's days!

We are always complaining GOK is borrowing too much for infrastructure and development but when they ask us too pay through tax we just call them thieves.. I am speaking also about NHIF Sad

As we move forward this mindset should change!
Mark 12:29
Deuteronomy 4:16
mozenrat
#17 Posted : Tuesday, October 09, 2012 4:33:54 PM
Rank: Veteran


Joined: 5/18/2008
Posts: 796
guru267 wrote:
King G wrote:
Let us hope we will be with you in this forum by 2017 and then we exchange notes on development projects so far achieved as we head to mirage 2030. You cant sit your butt down and tell me that there are no substantial likeages in our system!


I will be glad to do so... The development in the next 5 years will be more than Kenya has ever seen and within direct track to 2030..

The problem is some of us may be still dealing from the trauma of Moi's days!

We are always complaining GOK is borrowing too much for infrastructure and development but when they ask us too pay through tax we just call them thieves.. I am speaking also about NHIF Sad

As we move forward this mindset should change!


@Guru, please stop lying to us.. we're quite familiar with the way the Govt works. NHIF funds WILL NOT and CANNOT be used to improve infrastructure, to build hospitals or to hire additional doctors.... That is not its job.. Like you I do see the improvements.. for instance, the greatly improved gratuity payments to MPIGS.
sparkly
#18 Posted : Tuesday, October 09, 2012 4:40:30 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Affected taxpayers can apply for waiver of penalties and interest.

KRA is considerate. Every case has to be considered on its own merits, but there are ways and means of starting from a clean slate.
Life is short. Live passionately.
ChessMaster
#19 Posted : Tuesday, October 09, 2012 6:57:50 PM
Rank: Elder


Joined: 2/23/2009
Posts: 1,626
sparkly thank you for clarifying the matter for me. The government has done a great job in terms of infrastructure although spending on recurring expenditures is too high. Now it's time for Kenyans to utilize this opportunity and start generating income. Just complaining won't change how things are,action is what we need.
Uncertainty is certain.Let go
maka
#20 Posted : Tuesday, October 09, 2012 8:47:40 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
ChessMaster wrote:
sparkly thank you for clarifying the matter for me. The government has done a great job in terms of infrastructure although spending on recurring expenditures is too high. Now it's time for Kenyans to utilize this opportunity and start generating income. Just complaining won't change how things are,action is what we need.

...@chessmaster the problem is the guys running the show have other ideas in mind,they should have instead cut down on spending we waste a lot of money in this country,behaving like we are in the first world yet we are third world,what happened to the return your big car policy,it waznt fully adhered to,i still see S320s with GK plates and parastatal ones,whats the point of flying govt managers based in Nairobi to some seminar at the coast,booking them in a 5star hotel,paying them huge allowances to discuss something that could have easily been discussed in a board room in Nrb,we have our priorities wrong,our spending is increasing at a rate that is not being matched by our revenue collection...if we dont watch we are headed somewhere really bad,@guru:they dont have to walk into the coffers at times towers,the money will find its way to them in all manners of expenses.
possunt quia posse videntur
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