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Jubilee Budget 2019/2020
Angelica _ann
#1 Posted : Thursday, June 13, 2019 2:58:06 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,529

National Treasury Cabinet Secretary Henry Rotich has unveil a Sh3.02 trillion budget for the financial year 2019/20.

Here are some quick facts on the 2019/20 budget:

Budget

The 2019/20 budget will be the seventh under the Jubilee administration. The National government plans to spend Sh3.02 trillion, about 10 billion higher than the current (2018/19) budget.

Deficit

There is an estimated deficit of Sh607.8 billion, an increase from Sh562 billion this financial year. The government is likely to borrow more in the next fiscal year to bridge the deficit as Kenya Revenue Authority (KRA) is expected to miss this year’s revenue collection target by Sh118 billion.

Treasury Cabinet Secretary Henry Rotich has set a revenue target of Sh2.2 trillion while KRA is expected to collect approximately Sh1.9 trillion.

Experts say the government might also heighten the tax regime to fill this budget deficit.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
kingfisher
#2 Posted : Thursday, June 13, 2019 4:08:18 PM
Rank: Elder


Joined: 4/9/2008
Posts: 2,757
Any live reporting (analysis) anywhere? Not the TV streaming pls!
When I have money, I get rid of it quickly, lest it find a way into my heart.
littledove
#3 Posted : Thursday, June 13, 2019 4:41:01 PM
Rank: Member


Joined: 7/1/2014
Posts: 706
Location: sky
Capital Gains Tax (CGT) increased from 5% to 12.5%, exempting gains due to the transfer of assets resulting from restructuring exercises.

how will this affect nse
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
murchr
#4 Posted : Thursday, June 13, 2019 4:48:10 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,586
littledove wrote:
Capital Gains Tax (CGT) increased from 5% to 12.5%, exempting gains due to the transfer of assets resulting from restructuring exercises.

how will this affect nse


The NSE was exempt from CGT
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
hardwood
#5 Posted : Thursday, June 13, 2019 9:25:31 PM
Rank: Elder


Joined: 7/28/2015
Posts: 8,908
Location: Montevideo, Uruguay
All 750ml whisky up by 24 bob, 750ml wine up by 18 bob. Beer untouched bei kama kawaida. So my Glenfiddich moves from 5500 to 5524.d'oh!
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
Ryko
#6 Posted : Thursday, June 13, 2019 10:20:01 PM
Rank: Member


Joined: 5/27/2016
Posts: 253
Location: Nairobi
littledove wrote:
Capital Gains Tax (CGT) increased from 5% to 12.5%, exempting gains due to the transfer of assets resulting from restructuring exercises.

how will this affect nse



Someone explain here just seen this clowns have increased 5% to 12.5% capital gains. Is capital gain same as the damn stamp duty we pay when buying land?

As in when you buy land for 4M you cough a damn 500K and lawyer fees this thing can end up to 4.6???
Does the same apply to buying houses?

The land/constructions industry is heading Kaput, i can imagine guys who have assets in land this will mess with liquidity in this industry!!
I work so I can afford the amount of alcohol required to continue going to work
Swenani
#7 Posted : Friday, June 14, 2019 8:30:37 PM
Rank: User


Joined: 8/15/2013
Posts: 13,008
Location: Vacuum
hardwood wrote:
All 750ml whisky up by 24 bob, 750ml wine up by 18 bob. Beer untouched bei kama kawaida. So my Glenfiddich moves from 5500 to 5524.d'oh!

Sisi watu wa weed but tuko exempted from taxation smile smile
Poverty is the root of all evil
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