Muasa
6.1K posts

Muasa
@MuasaJohn2
I talk about tax sometimes. Views my Own (Obviously).

A horrific video shows an Israeli soldier assaulting a Palestinian child in the village of Al-Ygheer, near Ramallah in the West Bank, during an Israeli army raid on the village today.

The Expressway that was to be built versus the Expressway that was built.






KRA is not playing with Naivas. You know Naivas. Hii tu moja. It was a fully family owned supermarket giant. When the time came to cash out, the owners weighed their options. If they sold the supermarket from Kenya, they would pay insane taxes. So they went shopping for low tax countries. And Mauritius presented itself. It was irresistible. - 0% tax on sale of the company. In 2015, the family registered a shell company in Mauritius. Called it NIL. Then transferred all their shares to this company. So Naivas was now 100% owned by a Mauritian company. To make it even tighter, they added another layer. They set up a second shell company. Called it GFI. And transferred all NIL shares to GFI. So now: • GFI owns NIL • NIL owns Naivas Kenya Proper entanglement. Achana na hiyo yako. As all this is happening, they are unaware of one dangerous sentence sitting quietly in Kenyan tax law. It reads: • Any company managed and controlled from Kenya is a Kenyan resident company. Then the family went looking for a buyer. In 2020: • They sold 30% of the supermarket for 5.2B • By selling 30% of NIL shares So: - Naivas is still owned by NIL - But NIL now has a new shareholder And everything happened in Mauritius quietly. Nothing has changed hands in Kenya trigger anything. • Deal is closed. 0 tax. Bahati mbaya, KRA caught wind that Naivas is gone. Immediately, KRA embarked on a fault finding mission. In 2022, KRA discovered that: - The family has always lived in Kenya. Not Mauritius. - They managed and controlled every single operation of the shell companies from Kenya They invoked the one dangerous sentence. You remember it? • Any company managed and controlled from Kenya, is a Kenyan resident company. KRA said: • These Mauritius shell companies are Kenyan • They must pay tax in Kenya Tax demanded: 30% of 5.2B. Plus penalties • Total Bill: 1.8B Naivas ran to court. The court looked at it, and sided with KRA. Family wakaabiwa walipe tax. Case closed! Lesson. • Structure your offshore company properly. • Or KRA will structure it for you.



KRA is not playing with Naivas. You know Naivas. Hii tu moja. It was a fully family owned supermarket giant. When the time came to cash out, the owners weighed their options. If they sold the supermarket from Kenya, they would pay insane taxes. So they went shopping for low tax countries. And Mauritius presented itself. It was irresistible. - 0% tax on sale of the company. In 2015, the family registered a shell company in Mauritius. Called it NIL. Then transferred all their shares to this company. So Naivas was now 100% owned by a Mauritian company. To make it even tighter, they added another layer. They set up a second shell company. Called it GFI. And transferred all NIL shares to GFI. So now: • GFI owns NIL • NIL owns Naivas Kenya Proper entanglement. Achana na hiyo yako. As all this is happening, they are unaware of one dangerous sentence sitting quietly in Kenyan tax law. It reads: • Any company managed and controlled from Kenya is a Kenyan resident company. Then the family went looking for a buyer. In 2020: • They sold 30% of the supermarket for 5.2B • By selling 30% of NIL shares So: - Naivas is still owned by NIL - But NIL now has a new shareholder And everything happened in Mauritius quietly. Nothing has changed hands in Kenya trigger anything. • Deal is closed. 0 tax. Bahati mbaya, KRA caught wind that Naivas is gone. Immediately, KRA embarked on a fault finding mission. In 2022, KRA discovered that: - The family has always lived in Kenya. Not Mauritius. - They managed and controlled every single operation of the shell companies from Kenya They invoked the one dangerous sentence. You remember it? • Any company managed and controlled from Kenya, is a Kenyan resident company. KRA said: • These Mauritius shell companies are Kenyan • They must pay tax in Kenya Tax demanded: 30% of 5.2B. Plus penalties • Total Bill: 1.8B Naivas ran to court. The court looked at it, and sided with KRA. Family wakaabiwa walipe tax. Case closed! Lesson. • Structure your offshore company properly. • Or KRA will structure it for you.

Oontz fans have to accept for the industry to grow. For you to get the Ultras and black coffees you have to let the casuals in. 3000 of you die hards can’t attend all the events in NBO. And you also won’t accept to pay more for bigger events. So, yea, casuals…

We got to our prime years and then have to suffer from Covid, three different wars and a Trump-Ruto presidency I hate it here










