Robert K Waruiru

@MwangoCapital @AmbokoJH, this issue of 2.5% WHT on freight income - how will KRA access the tax for freight collect transactions i.e. the buyer pays the freight?

@AIRTEL_KE Is the pocket WiFi recharge system down? Not able to recharge my bundles…

@AmbokoJH Good starting point. We should also revisit the EAC Multilateral Tax Treaty to eliminate double taxation.

Treasury CS, John Mbadi, has just spoken about the "finalisation of the Harmonised Tax Procedures Directive that will unify tax procedures across East Africa". We are looking at harmonized Income Tax, VAT, Excise & Tax Procedures.

@AnyunguWanyungu @AmbokoJH Possibly traceable…question will be source of funds and whether that income was taxed.

@AmbokoJH What if I am sending money to my bank account?

MAJOR development - The government has announced that starting Dec 25th, 2024 ALL pay bills will be deemed to be virtual electronic tax receipt systems in a bid to widen the tax base. Senior Economic Advisor, Moses Kuria, says this decision has been arrived at at the disparity between KRA registered ETRs & >2.0M digital payment touch points across the country. He says KRA is aligned. Musings: · What does this mean for Sec23 of the Tax Procedures Act & Sec16c of the Income Tax Act? · I presume it means, by extension, that evidence of mobile money payments will also be deemed as good as an eTIMS receipt & therefore be admissible for income tax deductible purposes · Go to the MTRS & read about integration of tax systems with 3rd party systems · See the quoted tweet here. There's a lot more in the pipeline

@MwangoCapital With the proposed 3% withholding tax on supply of goods to government, isn’t it time to pivot from eTIMS to withholding tax for all supplies?

@PeterNdegwa_ we have had home fiber outage since Tuesday 21 November 2023 and 400 or 0722 000 400 is unresponsive. The reference number is 1-69OCITOT…

@AmbokoJH Should be interesting to see what is contained in that Bill. The current Income a tax Act clocks 60 years and with numerous amendments, it is a complex piece of legislation - an enigma.

Just learning that there is an Income Tax Bill 2023, the sponsor of the draft bill, Hon. David Gikaria, will be making a presentation on the same tomorrow in the afternoon...Last time we had a discussion around overhauling the Income Tax Act, the discussion just fizzled away

@AmbokoJH Add to the list of eagerly awaited things, the inaugural budget speech of the CS NT under the KK administration.

The National Assembly Finance & National Planning Committee will table its report on the Finance Bill 2023 next week. Eagerly waiting for this one.

@AmbokoJH The differentiation of VAT rates serves a useful purpose of ensuring basic commodities remain accessible to most consumers whilst still exempting government from tax expenditure by way of exempting or zero rating the products…

It looks like one Finance Bill 2023 proposal GOK is keen on is the standard rating of Value Added Tax on fuel. In defending the proposal, Treasury CS, Prof. Njuguna Ndung'u, says there is need to do away with multiple VAT rates in the country.

@AmbokoJH @ntvkenya @AmbokoJH, fantastic conversation. We hope the parliamentarians are listening!

Join us on May 9th, 2023 between 7:30 & 9:00pm on @ntvkenya's #BusinessRedefined as we continue unpacking the Finance Bill 2023. You don't want to miss this!!

@AmbokoJH @AmbokoJH, with the betting sector already integrated and effecting real time data transmission to KRA, M-PESA transactions and possibly bank accounts integration may happen earlier than expected!

Kenya Kwanza's debut Draft Budget Policy Statement is out! Some highlights: 1) KRA to reduce VAT gap from 38.9% to 19.8% 2) KRA to reduce the corporate tax gap from 32.2% to 30.0% 3) Integration of KRA tax system with telcos 4) Kes 3.0 trillion tax revenue target for FY2023/24

@Ishiombz @ICPAK_Kenya @Ishiombz that’s why your participation in the entire budget process is so crucial! Together, we can hold government accountable.

@ICPAK_Kenya I agree with Robert on the relationship between tax administration and service delivery. How does ICPAK - in advising the CS - ensure focus on service delivery. If Kenyans pay for basic services they are triple or quadruple taxed.

@NationAfrica Great conversations as always…Thanks @AmbokoJH and the panelists!

@AmbokoJH @AmbokoJH, what does this mean for Ghana’s sovereign credit rating and other commercial debt pegged to this rating?

UPDATE: Ghana's domestic debt restructuring 1. Bonds existing as of Dec 1st have been swapped for 4 new bonds maturing in 2027, 2029, 2032 & 2037. 2. Coupons set at 0.0% in 2023, 5.0% in 2024 & 10.0% from 2025 to maturity 3. T-bills have been spared restructuring

@NationAfrica From the current chaotic scenes at MIA, @KenyaAirways does not need much help in imploding…#KQ607 and #KQ609

KENYA AIRWAYS says strike by pilots will cost the airline Sh300m a day, insists the move is unlawful and unnecessary.

President Uhuru Kenyatta has signed the Finance Bill 2022

On #MoneyFesto this week - With Kenyans grappling with runaway cost of living, taxation looms large as an issue in the August 2022 general election. Given the country's constrained fiscal space, what options are on the table? Are the pledges being made feasible? Tue 7:30pm

#Nationaltaxpolicy eagerly awaited!

#Minimumtax The multiplicity of tax cases at the High Court points to the need for extensive stakeholder engagement. #excisedutyadjustment

Awesome experience!