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CeMki
710 posts

CeMki
@CephasKitavi
Borne at Machakos county, studied at Kabaa High School, KCA university: cpa(k) and Bcom- finance, KESRA: Tax administration.
Nairobi, Kenya Katılım Ekim 2021
2.8K Takip Edilen1.3K Takipçiler

@citizentvkenya
So mbadi the political rallies he has been running campaigning are what he calls public participation?
We serious are living in a sick nation, government is campaigning and using Kenyans money to campaign.
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@MutahiNgunyi You're now reasoning like Karen Nyamu. Bure kabisa
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CeMki retweetledi

Another useless character who has been a frequent visitor at safari park Apartment No. 7, Gate A, Kasarani arriving under the cover of night and departing in the early hours of the morning. I trust you are fully aware of the implications and the gravity of such conduct. Bibi ya wenyewe is a no go zone!! Robert Alai wacha na Bibi ya wenyewe my friend, kitakuramba !!!!!!

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@NPSOfficial_KE How do you go distributing 2M at a cost of 10M (presidential convoy and cost associated with the travel) how does Ruto think?
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@NPSOfficial_KE Ruto deserves every bad occurrence, what the heck does president go campaigning instead of working, is it work of president to go distributing 22k with convoy of millions of tax payers money...
Is it logical, where is the minister?
Why did he appoint the minister?
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@DrRoselynAkombe People didn't understand her, she is against the hypocrisy portrayed by the KK government.
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@citizentvkenya I'm worried some people are still believing this SHA people, how long does it take for someone to learn...
Go get the contacts at their portal call and see if anyone will answer then we can pickup discussion after you confirm @_shakenya is absolutely nonsense after 104b useless.
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Mercy Mwangangi: Before the end of the year, Kenya will be launching ambulance services. You will be able call a number, we identify where you are and dispatch an ambulance which will then transport you to the nearest emergency centre. SHA will pay Ksh.4500 for evacuation and free care at the emergency facility for 24hrs.
#CitizenExplainer
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@citizentvkenya @_shakenya How long does it take for SHA to respond to a call, someone will die waiting, this is nonsense people who are talking to please fools.
It will take century for SHA to respond to a call, probably it will be easier for phone battery to die than them receive a call.
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@_shakenya @Mercymwangangi1 @WilliamsRuto @citizentvkenya please know the contacts at SHA are never responded, and you should expect little or no assistance if you intend to be helped urgently through a phone call.
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@citizentvkenya the next time someone from SHA attends interview and says SHA is working, please try calling the numbers on their website and see if they will be responded.
Total nonsense, with this digital error you have to travel all the way to their office for assistance!!!
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@AmbokoJH Kra was right, you can't pumb money into business and nothing shows any discussion around money before it was pumbed into business.
Nothing shows that business was short of capital hence more money was required.
Board resolution is necessary, no loan without interest.
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In what circumstances can KRA deem all deposits into your bank account as income & therefore taxable?
The judgement on appeal E1116/2024 (Kirin Pipes Limited vs KRA Commissioner Intelligence Strategic Operations Investigations & Enforcement) before the Tax Appeals Tribunal is one I think every Kenyan needs to read.
The Big Issue:
· The issue at hand is a crucial one - In what instances can KRA deem all deposits into a bank account as income & therefore taxable?
The Contention:
· KRA conducted an investigation into Kirin Pipes Limited's tax affairs for the period 2019 - 2022 & issued assessments for income tax of Kes 34,300,288 & VAT of Kes 22,687,105
· Kirin Pipes Limited went before the Tribunal arguing that KRA made an error by assuming that every deposit made into its bank accounts amounted to income capable of being charged tax
Kirin Pipes Limited's argument:
· The company commenced its operations in 2019 during which shareholders injected share capital. The ordinary share capital was Kes 10.0 Million but the company required further capital & therefore shareholders deposited a further Kes 29,425,495.45 into its bank account
· The company therefore argues that the deposit of Kes 29,425,495.45 was not income but capital injection
· During its formative years, the company required funds to help cover the initial setup costs & operating expenses & sought for a Kes 31,697.392 loan from Nanchang Municipal Engineering Development
· The company therefore argues that this deposit ought not be subjected to income tax by KRA since it was a loan
· The company also argued that it received funds from its shareholders totalling Kes 24,619,662 to fund its operations & that the said amounts were not income but shareholders deposits
The Verdict:
· The Tax Appeals Tribunal held that Kirin Pipes Limited failed to provide an analysis of the specific deposits which related to capital injections & to link the deposits to the shareholders who are indicated in the Official Company Search (form CR12).
· The Tribunal observed that Kirin Pipes Limited provided uncertified bank statements & swift confirmation slips which could not be attributed to capital deposits in the absence of other corroborative documents such as an analysis & description of the deposits, Meeting Minutes/ Resolutions or any other document to demonstrated that indeed the amounts in question were capital injections
· The Tribunal held that it was incumbent upon Kirin Pipes Limited to demonstrate the flow of capital from its shareholders & how the same was eventually accounted for by the company
· The Tribunal also held that Kirin Pipes Limited failed to provide evidence of the resultant shareholding structure after deposits by the said shareholders. Whereas Kirin Pipes Limited submitted form CR12, it only showed the initial capital of Kes 10.0 Million
· Tribunal found that Kirin Pipes Limited failed to prove that deposits worth Kes 54,045,101.45 in its bank accounts during the period under review were attributable to capital injection from its shareholders
· The Tribunal established that whereas Kirin Pipes Limited argued that a deposit worth Kes 31,697,392 was a loan from Nanchang Municipal Development Corporation, the documents indicated that it was interest free & the same could be repaid at any time at the discretion of Kirin Pipes Limited
· The Tribunal held that such open terms in the loan agreement made it difficult to verify whether the amount was indeed a loan, given that there was no interest charged & neither was there a repayment period
· Tribunal also pointed out that from the date the loan agreement was signed in 2019 to the date of assessments in 2024, Kirin Pipes Limited did not provide proof of any repayments it made towards the said facility
· The Tribunal therefore found that the documents tabled by Kirin Pipes Limited to support its claim that Kes 31,697,392.00 of the deposits in its accounts were proceeds of a loan advanced were insufficient & did not meet the evidential threshold of disproving that the loan was income chargeable to tax
· In sum the Tribunal found that KRA did not err in treading all deposits into Kirin Pipes Limited's bank account as income & therefore taxable

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@ScentHQ @instablog9ja Is it possible you give prices in dollar also
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@AokoOtieno_ But honestly matatu drivers should respect other road users, in the same manner boda boda rider should acknowledge we have other road users.
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@AokoOtieno_ As a matter of fact, gari haina makosa. The vehicle responds to commands issued by someone.
They should only deal with command centre, next time people should target command centre.
After this matatu s/he will engage another and issue similar commands.
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