Bajeti Highlights- In summary

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Okiya

Guest
#1
1.Capital Gains Tax on sale of shares dropped in favour of 0.3% transaction tax on value.

2. Excise duty bill proposes new charges on harmful items to be levied on unit of quantity -- sticks of cigarettes, volume of alcohol, motor vehicles by age, weight of plastic bags. Goods with no harmful effects no longer taxable under new excise law.

3.Lotteries to be taxed at 5% of turnover, bookmakers at 7.5%.:D:D:D- Talkers wa kubet wajue kuanzia next season Sport pesa inapanda bei

4.VAT law amendment proposed to allow returning owners of LHD vehicles in diaspora to sell vehicle and buy RHD vehicle of similar value for import into country.

5.Prison officers to enjoy similar duty-free import privileges as members of armed forces.

6.Import Declaration Fee lowered from 2.25pc to 2pc.

7.Road maintenance levy to go up by Sh3 per litre of petrol and diesel.:eek::eek::eek:

8.Import duty rate for plastic tubes used to package toothpaste, cosmetics raised from 10 to 25pc.:eek::eek::eek: Hapa wameumiza watu wa Naivasha kama @ old monk

9.Sugar duty rate close to doubled per metric tonne. I smell something fishy here

10. To build up film industry, all payments by foreign producers to local actors and crew exempt from withholding tax.

11. To encourage hiring of interns and apprentices, employers to get tax rebate for employing ten or more youth for 6-12 months. Training levies to be consolidated into national job fund. I see this backfiring like the tax rebates on holidays


 
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Female Perspective

Guest
#8
7. If they'll construct the 10000km as promised. Then I'll gladly pay the extra 3 shillings...
 
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Okiya

Guest
#10
7. If they'll construct the 10000km as promised. Then I'll gladly pay the extra 3 shillings...
Its 10,000 in 5 years. Not in a year. Anyway, don't raise your hopes too much. Remember the hype around the Eurobond and all the good things we were told it would do? I remember them hyping that it would make borrowing from banks cheaper. 1 year down,,no change!!
 
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Female Perspective

Guest
#12
Its 10,000 in 5 years. Not in a year. Anyway, don't raise your hopes too much. Remember the hype around the Eurobond and all the good things we were told it would do? I remember them hyping that it would make borrowing from banks cheaper. 1 year down,,no change!!
Of course not in one year!
 

Dunya

Village Elder
#15
In a country that does not have a motor vehicle manufacturing industry to speak of then we classify motor vehicles as harmful items by age and tax them to the tooth. Personal transport is a crucial and strategic sub industry that succesive governments have taken for granted. Take for example, i contribute more to the economy by driving than when i was walking. I buy fuel thereby helping fuel stations grow and employ kenyans. I wash my car in carwash businesses. I instal after market add ons like speakers, lights etc promoting more business. Im able to reach more places and spend money there promoting even more business. When i was walking the only people i was promoting were the shoe stores and banana sellers for energy. Needless to say i still promote them albeit in not so frequently like before. Yet governments want to continously pupport private motor vehicles should only be for the well off by virtue of the high taxes despite all the gains we would reap if more people drove out and about. The motor vehicle age system is skewed and we should not use it in africa. We import high milleage 'newer' vehicles expensively while we shun less milleage 'older' ones through restriction. Show me a politician/businessman who walks and is in business if you want to know the importance of personal mobility. We need mobility of the masses if we are to develop this vast country
 
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Female Perspective

Guest
#18
@Okiya is it true that importation duty on our beloved ex-japan vehicles has double...priis just clarify bira matuthi!
 
F

Female Perspective

Guest
#20
The cost of the cars will increase but no its not true they will double. Only components affected are Excise duty which will go up and Import declaration fees which will come down. No change in other components such as import duty & VAT
Thanks!
 
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