Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Tuesday, Aug 20, 2019
Investor
We’re investing funds for profit. Join us and wazua!
FEATURE  

LATEST DISCUSSIONS
Centum 2019/2020 [22]
DTB Group FY 2018 [13]
Housing Finance: HFCK a diamond in the rough [1915]
Kenya Economy Watch [2161]
M-Akiba treasury bonds via mobile [375]
Kenya Airways...why ignore.. [13477]
Why dustbowl is the future [340]
Equity Bank FY 2018 net profit up 5% [61]
CIC Insurance 2019 [14]
Safaricom 2019/2020 [31]
Exchange Bar: Results forecast [2019]
Madness at the NSE [1774]
Banda Homes et al [87]
Potential merger NIC + CBA [146]
KCB 2018 and Beyond [345]
 
Forum Jump








Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
buy a strong home safe, since govt will tax deposits
mikanjoroge
#1 Posted : Wednesday, July 25, 2018 8:30:52 AM
Rank: New-farer


Joined: 6/13/2016
Posts: 47
Location: kenya
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.
obiero
#2 Posted : Wednesday, July 25, 2018 8:45:34 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,970
Location: nairobi
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.

Chubb are good
COOP 5,500; KCB 3,700; KQ 221,100
rwitre
#3 Posted : Wednesday, July 25, 2018 9:12:13 AM
Rank: Member


Joined: 3/8/2018
Posts: 338
Location: Nairobi
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.


Might I suggest an alternative to the safe: Bitcoin? Your wallet, your coins.
-Secure.
-Accessible from anywhere in the world.
-No government can take it from you.
-Inflation won't eat it.
-Transact directly using it or convert to local currencies when the need arises.
Yes, daily price fluctuations will put you on edge. However, as a long term store of value, your funds are safe.

The home safe has its pros/cons list too, but decision is yours.
Swenani
#4 Posted : Wednesday, July 25, 2018 11:52:11 AM
Rank: User


Joined: 8/15/2013
Posts: 13,033
Location: Vacuum
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.


If you show me you cash, I can customize a safe for yousmile
Poverty is the root of all evil
Mukiri
#5 Posted : Wednesday, July 25, 2018 2:44:30 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,202
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.

Welcome to Bitcoin, my frensmile Safes are another shortcut to Makueni

Proverbs 19:21
Ali Baba
#6 Posted : Wednesday, July 25, 2018 6:23:42 PM
Rank: Member


Joined: 8/29/2008
Posts: 514
Mika Njoroge: and where is the location of your home??
Angelica _ann
#7 Posted : Wednesday, July 25, 2018 6:27:36 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,688
Ali Baba wrote:
Mika Njoroge: and where is the location of your home??


smile smile 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
Mastermind
#8 Posted : Thursday, July 26, 2018 10:11:29 AM
Rank: Veteran


Joined: 1/25/2012
Posts: 1,568
Location: Langley
Ali Baba wrote:
Mika Njoroge: and where is the location of your home??

Ali baba and forty thieves.
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
RIEK01
#9 Posted : Thursday, July 26, 2018 4:57:58 PM
Rank: New-farer


Joined: 2/8/2018
Posts: 48
Pesa Nane
#10 Posted : Thursday, July 26, 2018 10:18:45 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Pesa Nane plans to be shilingi when he grows up.
mikanjoroge
#11 Posted : Friday, July 27, 2018 6:32:30 AM
Rank: New-farer


Joined: 6/13/2016
Posts: 47
Location: kenya
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.


As much as I detest it, I can stomach the initial robin hood tax of 0.05 on 500,000 and above. But I know this is just KRA's "introductory offer".

I am certain that in the next fiscal year, they will either/or:

1.) Reduce the amount to 400K and above transfers to capture more transfers.
2.) Increase the tax from 0.05 to 0.06.

They will repeat this process every year, like they do with beer, cigarettes and vehicle taxes.

So I just want to organize myself ahead of time. You too will follow. Trust me. MPESA won't be spared either.

mnandii
#12 Posted : Friday, July 27, 2018 6:35:11 AM
Rank: Veteran


Joined: 10/11/2006
Posts: 1,832
mikanjoroge wrote:
It seems the more we go digital and embrace banking, the more the government is seeing an opportunity to tax.

I predict that in the next two years, bank deposits, bank withdraws, bank balances, wire transfers (incoming and outgoing) will be the new tax cash cow.

This year, they have set the stage with the robin hood tax. I guarantee next year it will be raised.

These tax streams will be the new cigarettes and beer tax. Every year the tax rate will go up. Mercilessly.


I have decided to be proactive and invest in a very very strong safe and put some cash inside. Fireproof, thief proof, everything proof.
Anyone have any good make and models for home use? This way I don't have to deal with these myriad of taxes that I am sure are in pipeline.

If I transfer money, it is using my own hands.

Note: I am not a tendepreneur. Just trying to legally avoid useless taxes. Keeping cash at home is not illegal.


CASH is king now. I wholly endorse!
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.
Ali Baba
#13 Posted : Friday, July 27, 2018 1:46:10 PM
Rank: Member


Joined: 8/29/2008
Posts: 514
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.
georgegop
#14 Posted : Friday, July 27, 2018 2:52:43 PM
Rank: Member


Joined: 8/30/2010
Posts: 182
Location: Migingo
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?
Don't Work for Money, Let Money Work for You..
mikanjoroge
#15 Posted : Friday, September 21, 2018 10:34:12 AM
Rank: New-farer


Joined: 6/13/2016
Posts: 47
Location: kenya
Ali Baba wrote:
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.



The day for the safe has arrived. This tax will go up every year by MINIMUM 1-2 %.
obiero
#16 Posted : Friday, September 21, 2018 3:36:46 PM
Rank: Elder


Joined: 6/23/2009
Posts: 11,970
Location: nairobi
georgegop wrote:
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?

Good question
COOP 5,500; KCB 3,700; KQ 221,100
Sober
#17 Posted : Friday, September 21, 2018 3:59:12 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,596
obiero wrote:
georgegop wrote:
Suppose you invest in Bitcoins and you pass on. Who takes over the custody of your wealth, ama itaenda cloud?

Good question


Bitcoin and cryptocurrency in general gives you control over your wealth. Legislation is in the technology, so if you need one to take up cunstory of anything, just give them he keys and credentials to them. Or else they will be lost and the price factored into the existing ones by value and not number.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Wondergirl
#18 Posted : Friday, September 21, 2018 4:21:40 PM
Rank: Member


Joined: 9/12/2009
Posts: 312
mikanjoroge wrote:
Ali Baba wrote:
Pesa Nane wrote:
Your choices are clear. Pay Robin Hood Tax or Robbing da Hood Alibabas.
Exactly.pay the damn tax or you get visitors at night.



The day for the safe has arrived. This tax will go up every year by MINIMUM 1-2 %.

Mikan,
Please update those of us not in the know...
Ryko
#19 Posted : Friday, September 21, 2018 6:07:56 PM
Rank: Member


Joined: 5/27/2016
Posts: 260
Location: Nairobi
if this will be coming in to effect many will need a Strong Safe, wanabiashara kaput!!

I work so I can afford the amount of alcohol required to continue going to work
2012
#20 Posted : Friday, September 28, 2018 8:27:18 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,431
Location: Nairobi
Dear Customer, In line with the Finance Act 2018, the Excise Duty payable on the fees charged for money transfer services and other fees charged by Banks has increased from 10% to 20% effective 1st July 2018. The Bank will collect the Excise Duty as from 1st July, 2018 and remit it to the Kenya Revenue Authority. For more information call us. Thank you.


Ok, I'm not calling them, don't want them to know I don't know.

Someone please explain this for me. I received the above sms from my bank. So they'll be taking my 20% of transaction fee for every transfer I make and withdrawals (Atm etc) ama? And these backdated to July 1st,they think they will rob it from whose account?

Stand for something or you will fall for anything. Today's mighty oak is yesterday's nut that held its ground. Rosa Parks
Users browsing this topic
Guest
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2019 Wazua.co.ke. All Rights Reserved.