CPA Simon Maina

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CPA Simon Maina

CPA Simon Maina

@Simon_Myna

Tax Consultant

Nairobi, Kenya Beigetreten Mayıs 2014
2.2K Folgt260 Follower
CPA Simon Maina
CPA Simon Maina@Simon_Myna·
@KRACare @RuchaMicke There is no problem with his portal. I am running numerous etims, and the whole system is just down! Its unfortunate that we beg daily for etims to work so that clients can invoice
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KRA Care
KRA Care@KRACare·
@RuchaMicke Hello Mike, Kindly contact us via DM with your PIN number for us to check on your eTIMS account and advise. ^KM
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Micke Rucha
Micke Rucha@RuchaMicke·
Very frustrating experience with @KRACare Etims online system. In a week, the system is down 3times and unavailable over the weekend. Please do something and save our health and mental wellbeing @KRACorporate
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
KRA customer care on X is something else. - Technically, they are more informed. - Speedwise, they are trying. - Attitude, they are lively. - Passion, they love what they do. They resolve issues faster than your KRA account manager. @KRACare @KRACorporate, Wapandishieni mshahara.
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
@p_gichuki Educate me Gichuki. How does accepting cash payment hinder tax collection?
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
I hear you, Lynn. But Somalis, with all their wisdom, choose cash for a reason. Others, with all their wisdom, choose M-Pesa for a reason. There is no need to sensationalize or criticize the Eastleigh community over that. People are free to accept the means of payment that is most convenient for their businesses. • Some businesses prefer cash only. • Others prefer M-Pesa only. • Others accept both. Cash is the only legal tender in Kenya. Digital money derive its value and legitimacy from cash. Accepting cash is not illegal. Neither is preferring M-Pesa. Different people have different money preferences. KRA has had legal mechanisms and tools for taxing cash businesses since 1995. Long before M-Pesa even existed. M-Pesa came the other day. It found KRA right here collecting taxes. KRA should use those same mechanisms to tax businesses that choose to transact using Kenya's only legal tender. Let us all, including KRA, support our only legal tender.
Lynn Ngugi@lynn_ngugi1

I honestly don’t think we’re ready for this Eastleigh conversation. Few Observations,. You buy something in the majority of those shops and they want cash. If you don’t have cash, they have their own MPesa agents they tell you to withdraw from. They then make a quick call to the agent to confirm the withdrawal before releasing your goods. That way, they never have to explain their cash flow, but you may one day have to explain yours to the taxman. We’re talking about a multi billion shilling industry with very little transparency, accountability or visibility into how money moves. And as long as they remain the middlemen, pay zero tax, sell “counterfeit goods” the government is comfortable But how dare you use the same business model, open your own wholesale operation and bring your own goods through the port?…..

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Ndindi Nyoro
Ndindi Nyoro@NdindiNyoro·
Unprecedented. Elon Musk is the First Dollar Trillionaire in the World. Now with a net worth of $ 1.1Trillion following the listing of SpaceX today. As the wealthiest person in the World, the gap between him and number 2 is is over $800. He is wealthier than number 2,3,4 and 5 combined. Larry Page (Google), Sergey Brin (Google), Jeff Bezos (Amazon) and Larry Ellison (Oracle). Interestingly, all his businesses are unconventional. Tesla (Electric Cars and Tech), SpaceX (Exploration, Rockets, Spacecraft, AI, Starlink is also part of the company, Boring Company (Tunneling) and Neuralink (Brain implant company). His wealth of approximately Ksh 143 Trillion can pay all our Public debt and consequently fund our budget for 35 years without Kenyans having to pay any taxes or levies to government Ceteris Paribus. With debt service exempted since there will be none to service. Ingenuity, hard work, foresight and some level of obsession and not being “normal” are some of the attributes that are evident. We are African and Africa is our Business..
Ndindi Nyoro tweet mediaNdindi Nyoro tweet media
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
I went to visit my uncle this afternoon. But he has really bashed me. That my clock is ticking, yet I do not own a ranch. He wondered where I take my money, and yet I do not drink. I kept quiet the whole time. Then he finally dropped the line I had been waiting for. - Jitetee sasa. What is your excuse? I immediately pulled out my phone. Opened my investment app. And handed it to him. Then told him: - Uncle, what you are looking at is my portfolio of shares in great companies. Nataka ifike mita siku moja. He listened very keenly. I thought I was finally about to receive the legendary: Congratulations my son. Instead, he leaned back. Looked at me. Then asked. - That's OK. But what are stocks and shares in Kikuyu? I had never thought about it. I froze. He told me to take my time. Eventually, I gave up. And told him to answer his own question. He smiled. Then said. - Stocks and shares do not have a name in Kikuyu or any African languages. - The colonizers invented these fancy slogans to make brokies think they are becoming wealthy by accumulating papers and numbers on screens. - Meanwhile, they themselves are accumulating the real assets. I asked him: What are real assets? He replied: - Land. - Animals. - Plants and foods. - Water bodies et al Things you can actually touch. These are the things that create wealth. Then he concluded with a sentence that has refused to leave my head. • Every African man must own real assets. Is the old man right or wrong?
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Eric
Eric@amerix·
Women should know that, Submission is not silence. Neither is it slavery nor servitude. Submission is the wisdom to understand structure. A home with two captains and no first mate does not sail anywhere. It will drift and collapse. Order in a home requires hierarchy. Hierarchy requires the MAN to lead and the woman to support the lead. This is not weakness at all, but rather the architecture of the family institution.
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
Finance Bill 2026 wants full suspension of data protection Act. Here is how. 1. System Integration (Section 59A) If your business sells over 5M annually: • You shall connect your accounting system to KRA. Be it QuickBooks, zoho, etc • To give KRA live feed of your transactions Fail to comply: 100K penalty every month. 2. Crypto Reporting (Sections 6C & 6D) • Kenyan crypto platforms must report all users trading history to KRA. Fail to file: 1M penalty 3. Pre - filled Tax Returns • KRA will generate tax returns for you based on any info available to them. Meaning: - KRA shall decide your tax bill - You must prove them wrong (Like what Shuru sent you on whatsapp) 4. Data Sources (Section 29A) KRA can assess you using: - eTIMS data - Mpesa & Bank information - Audits & inspections of related parties. eg your spouse, parents, customers, suppliers, etc - Other govt system integrations. eg NTSA, Lands, KPLC, etc 5. Physical & Digital Access (Sections 58–60) • KRA can enter your premises • Inspect records • Demand computer passwords & decryption keys • Seize documents with a warrant Meaning: KRA wants full suspension of data protection Act.
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
There are those suggesting that thief @Bossyator should rephrase my content with chatgpt. He has tried it. But the output came out dry and humourless for his followers. He posts raw stolen content to preserve the humour.
CPA Wachira Joseph@WashiraX

@Bossyator is another notorious thief of content. He has zero creativity. He copies my work word for word. With zero credits. Then parades it on FB. Now everyone is shaming him!

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CPA Simon Maina
CPA Simon Maina@Simon_Myna·
@WashiraX @AmbokoJH We have truly lost creativity and innovation. From copy pasting in ai to now individual copy pasting. Sad
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
Over the weekend, I logged into LinkedIn. All of a sudden, my timeline was full of my own content. Word for word. Stolen and posted by others. With zero credits. So I started calling out the thieves. As I am doing this, Julians Amboko noticed. @AmbokoJH But what caught my attention was his comment. He said: He has marked every single person stealing his content. They are all CPAs. That made me curious. So I went back. Reaudited my own content thieves. They were all CPAs. Some even very senior. Honest talk. - What is the problem with CPAs? - Where is ethics? - Why can’t you read, understand, then create your own authentic content? What is the problem?
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CPA Simon Maina
CPA Simon Maina@Simon_Myna·
@BMW Please deliver one for me to Kenya 🇰🇪
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
[Your Full Name] amesema anataka kazi.
CPA Wachira Joseph tweet media
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CPA Peter Ndirangu
CPA Peter Ndirangu@pitandirangu·
Your Tax Accountant Should Do More Than Just Filing Taxes YES ! They should go beyond routine return filing. They should advise you on: -The tax risks you are exposed to based on the nature of your business, -Tax planning measures to help optimize your tax expenses, and -Timely updates on changes in tax laws that impact your operations.
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
Hello Uber and Bolt, I spent significantly on your apps last year. I intend to claim these as travel expenses. Kindly share your KRA PINs so I can report the expenditures to KRA. Or guide me on the official process to obtain the PINs. Thank you! @uber_kenya
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
Kenyan tax law is tricky, and sometimes entertaining. There are guys called H-N-F. High Networth Freelancers. They earn in dollars. Think in dollars. And price everything in dollars. They have made life particulary difficult for agents. I heard one casually say. - I get the rent is Ksh 180k, but how much is that in dollars? And before the agent could reach for the calculator. He told him to forget about it. But now, In Kenya, taxes are crazy. A freelancer earning 10M annually, Pay taxes worth 3M shillings. • That is 30%. They do not like that. So they get creative. They look for low-tax countries: - Dubai, Mauritius, cayman islands, etc. They register brief case companies there. - As sole directors & sole shareholders. Clients pay directly to those companies. The company pays Zero or very low tax. • Then sends money to Kenya as dividends. Withholding tax about ~5% - So tax drops from 30% to 5%. Same 10m. Tax now 500,000. But unknown to them. There is one dangerous sentence chilling quietly in Kenyan tax law. It reads: • Any company managed and controlled from Kenya, is a Kenyan resident company. Meaning: - You own the company in Cayman - But run it from your laptop in Nairobi That is a Kenyan company. And Kenyan companies must pay Kenyan taxes. So one day KRA audits the freelancer. He pays zero taxes in Kenya. He says he earns dividend from his Cayman company. KRA asks for the registration documents. And finds he is the sole director. - KRA Taxes the company in Kenya - Adds penalties for tax evasion - And goes for him as the representative to pay Lesson. • Structure your offshore company properly. • Or KRA will structure it for you.
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H i s t o r yKE
H i s t o r yKE@HistoryKE·
Throwback: Gen-Zs can’t relate.
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CPA Simon Maina
CPA Simon Maina@Simon_Myna·
@WashiraX @KRACare I have been on your case on this several times with no promising response, I hope its now clearer. @AmbokoJH please take note as well
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
Last week, I was conducting a training with realtors. After listening to them, This is my conclusion. • Real estate industry must unite with speed and sort out the eTIMS problem. Let us take Optiven for example. - They are serial land traders. - They buy, subdivide & sell land. To them, land is stock. Just like unga is to a shopkeeper. But, - To file their income tax return, they need an eTIMS invoice from the seller Shisabula. But, Shisabula cannot give them an eTIMS invoice even if he wanted. Why? - Shasabula is not a land trader. - To him, the land he sold is an asset. Not stock. - He pays capital gains tax upon selling it. - If he gives Optiven an eTIMS invoice, that becomes a business sale. - He must pay income tax for that invoice. - This is unintended double taxation. So we have: - A buyer taxed as a trader &, - A seller taxed as an investor Both stuck in conflicting systems. The results: - Realtor cannot claim land cost properly. - His profits get inflated - His taxes shoot up through the roof. - He starts crying The industry must urgently unite and engage KRA and push for a tailored eTIMS framework for real estate. What is your solution? How should eTIMS be designed for real estate?
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Ja Leto
Ja Leto@_falsi1ke·
A wise man once said, " Why argue with an Arsenal fan, when you can just wait."
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CPA Wachira Joseph
CPA Wachira Joseph@WashiraX·
I connected my lawyer to a client. The client paid well. Namwitisha finder fee. Alafu ananiambia, - It is illegal for him to commission me. - That LSK prohibits sharing of lawyer's profits with laymen. Mawakili, hii ni mambo gani?
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