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 pipelineshow more

We are going back to cash and mattress banking. Ruto is indeed taking us back to 1963.

They are broke. IMF and Eurobonds can't be restructured. They've robbed and borrowed enough until maybe Krismasi, but its going to collapse. Kenya will go back to cash and this attempt to levy tax without referendom will fail. This government is 💀, but can't admit it yet.

Disaster. Pochi ka Biashara and Buy goods are about to be raided. I expect many to stop using them

What if I am sending money to my bank account?

Thats why they involved safaricom in the 104 billion SHA deal. Wasilie sana.

Back to cash. These "tax innovations" are nothing more than a cash grab with no accountability. They are basically pushing more of the economy into the grey economy. What a wasted opportunity. Just because they do not want to address corruption. Corruption must be too sweet.

Nothing good and practicable comes from MosesKuria. This is wrongly designed and will fail terribly. Most policy decisions are not pegged on proper design and test before roll out. I hop this gok can increase server capability to make eTims work. You don't have to change tax laws

Businesses will just put the Paybills on Display just for COMPLIANCE. Practically, business owners will tell customers to use "Send Money" or just pay in Cash. How will the government track that? The government should stop using THREATS to target higher revenue. It will FAIL!

@Ericoloo Same reasoning with the housing levy and SHIF. The 3M people in the formal sector cannot carry the burden of the informal sector. Why is equity not considered for these two government policies?

They've stolen all the money and have run out of options. They want to sink the economy to ashes