Sam kaseve
1.7K posts

Sam kaseve
@skaseve
Logistics and Transport Expert.
Nairobi, Kenya Katılım Temmuz 2014
1.7K Takip Edilen280 Takipçiler


@polo_kimanii Expecially if you are black man....na ùmenye mùndu mwirù nì jaruo.
HT
Sam kaseve retweetledi
Sam kaseve retweetledi

Lakini kama Dadi Oven na macho moja kama skygo alipita na uyo kwelo mangai,akawacha mimi an intellectual high value man with a brand new sport bike and a collection of 16 books,hiyo ni kumaanisha mwanamke ni mtu mshenzi sana. Utamnunulia gari lakini juu ya kiburi achague baiskeli. Sasa imagine mdudu ikiingia kwa macho wakiwa highway. Kabla aitoe si watakua sayuni? Langu jicho tu!
Indonesia

@Bossyator in Kitengela we usually have a clause to protect on that.
English

In January, there's a guy who purchased re-bars at a hardware in Kitengela, Kajiado. He paid in full amount (800k) but didn't collect the goods instead he asked the hardware owner to keep them for him but got a receipt. Ofcourse the prices of rebars have gone up since then.
This morning he asked the hardware owner to prepare the rebars for him to collect. The hardware owner says, yes the rebars are available but the prices I got this stock for were higher so you have to top up 400k to make 1.2m.
My friend is demanding his rebars, at the amount he purchased them in January. The hardware owner on the other hand says you either top up 400k or I refund your 800k.
Who's right, who's wrong?. Discuss.

English

@Malone1k Jiulize vile @MikeSonko hukuwa na kakitu na huyu je? Na ndio mwalimu wake
Filipino
Sam kaseve retweetledi

KRA has gained another weapon.
One that will make serial nil return filers hesitate before clicking that NIL button.
Last month, this tax dispute left many ears tingling.
There is a restaurant called Avery Lounge.
I have no clue how they mastered it, but they cook the finest fish in Utawala.
Just next to Banta. My friend Kasimu recently took me there.
The place also offers the most spectacular rooftop view of Embakasi.
But there was one small problem.
- Despite all that poshness, Avery Lounge kept filing nil tax returns.
KRA became curious.
So they sent their spies.
The spies returned with a disturbing report:
- Bosi, the place is full. People are eating life like tomorrow has been cancelled.
KRA was enraged.
- How could such a big restaurant keep declaring zero income?
So KRA went straight for their bank accounts.
And what did they find?
- Millions flowing in.
At that point KRA lost its remaining patience.
They demanded for:
- financial statements
- purchase & expense records
- explanations for the deposits
But Avery provided none of them.
KRA became even more dramatic.
- They totaled all the bank deposits for the year.
- Baptized them as income.
- Then applied 30% income tax on the entire amount.
And sent Avery a tax demand of ksh 93 million.
Avery ran to court.
- They argued that some of the deposits were loans.
- And that KRA had not factored in real expenditures like purchases & Wages
But there was a small problem.
- They had no loan agreements.
- No documentation for expenses.
- Nothing.
The court looked at the situation and said:
- Since the taxpayer refused to provide records, KRA had no choice but to treat the bank deposits as income.
And with that, the court told Avery:
- Pay the 93 million tax bill.
Case closed.
So what is the lesson here for you?
If you have money flowing through your bank accounts, and you cannot explain the source,
KRA will simply decide:
- All deposits = income.
- And tax those deposits.
Therefore:
- Be careful with nil returns.
- Keep records. In tax matters, records are king.
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