Ivar The Boneless

Low effort friends ruin everything 🤦🏻‍♂️

President Ruto to Ndindi Nyoro: If we remove all taxes in fuel, what public services shall we stop funding? Leadership requires honesty, not political opportunism.

How do you make a deal with Taxpayers funds and have a confidentiality clause? When we say Uhuru is the worst President ever, you talk of his aura... He treated that office like his personal office and opened the door for everyone else.

Kenya’s Treasury has directed State agencies to increase business with Consolidated Bank through a circular by CS John Mbadi. The move is aimed at strengthening the lender, which has been struggling with capital gaps.

President William Ruto has announced that the first 100,000 electric vehicles imported into Kenya will be exempt from import duty. The tax waiver will apply to both public service and privately imported electric vehicles.

Tax experts - correct me if I am wrong, but this is what I understand KRA’s proposal in the finance bill 2026 to be. Assume I made revenue of 100,000 All my costs are 80,000. My net profit is this 20,000. KRA at present expects 30% of this as corporate tax. Leaving me with 14,000. I can pull that out as dividends, at which point KRA will tax me. Or, I can plough it back into the business. KRA’s proposal is to TAX at MINIMUM 60% of this, the ceiling being at the discretion of the commissioner general. This makes absolutely NO SENSE to me. Not only are you punishing reinvestment, you are hitting hard new businesses that are the most likely to reinvest their profits, not to mention businesses that are growing organically. In what universe is this a rational policy move?

The Finance 2026 proposal to amend Sec24 of the Income Tax Act is problematic on a number of levels: 1. It proposes to empower the Commissioner to direct that AT LEAST 60.0% of retained earnings to be redistributed as dividends. Key words to note here are "at least". The floor is clear, the ceiling is as high as the appetite for Withholding Tax collections can get 2. It is yet another reminder of how capricious tax policy & administration can get when it is viewed principally as a tool to smoothen out state cashflows. This is akin to what Finance Act 2023 did with Sec36 of the Excise Duty Act & remittance of collections within 24hrs. It misfired considerably 3. For entities that are on a growth phase that is investment heavy, this provision will be a minefield. How does this align with the Companies Act & its guidance on dividends?

IM CRYING! 😂😂