Budget 2020: Official Thread

mzeiya

Chief Lister
The Shilling unit based on older British monetary unit where 20 shilling=1 Pound (£). That is why we still call 20 shillings in matatu language mbao, mbao..(pound, pound). We dropped farthing and pence and took on cents to make money matters easy. you can imagine the math for 2 farthings (ndururu)=1 shilling, 12 pennies (Penny)=1 shilling and therefore, 100 cents (Hela moja) =1 shilling made sense (cents). That is why our 10 cents was/is erroneously called Penny Moja...close enough for an African discovering money.
Wow. Best thing I have learnt today. Kudos to you 👏👏👏
 

wrongturn

Chief Lister
Taxes
Customs Measures
• Finished Iron and steel products to be imported at 25 per cent or corresponding specific rate;
• Import duty on leather and footwear products at 25 per cent or corresponding specific rate;
• Unassembled motorcycles at 10 per cent under Duty Remission Scheme.
• Inputs used in textile and apparel sector at 0 per cent under the Duty Remission Scheme;
• Import duty on furniture products at 35 per cent duty rate;
• Inputs for manufacture of baby diapers at 0 per cent under Duty Remission Scheme;

Value Added Tax Measures
• VAT exemption on Health Products and Technologies to boost health sector.
• VAT exemption on goods used in geothermal, oil and mining projects.
• VAT exemption on equipment for generation of solar and wind energy.
• Transitional VAT exemption on goods used in power generation under power purchase agreements
• VAT exemption for asset transferred to Real Estate Investment Trusts and Asset Backed Securities
• Bread exempt from VAT instead of being both exempt and zero rated.
Excise Duty Measures
• Rebate on excise duty paid on internet data services purchased in bulk for resale.
• Excise duty on locally manufactured sugar confectionary and white chocolate.
• Removed excise duty on imported glass bottles.
• Changed excise duty rate on Motorcycles from Sh11,608.23 per unit to 15 per cent.
• Excise duty on nicotine pouch at Sh5,000 per kg.
• Excise duty on betting at 20 per cent of amount wagered.
 

Ubongo

Chief Lister
The Shilling unit based on older British monetary unit where 20 shilling=1 Pound (£). That is why we still call 20 shillings in matatu language mbao, mbao..(pound, pound). We dropped farthing and pence and took on cents to make money matters easy. you can imagine the math for 2 farthings (ndururu)=1 shilling, 12 pennies (Penny)=1 shilling and therefore, 100 cents (Hela moja) =1 shilling made sense (cents). That is why our 10 cents was/is erroneously called Penny Moja...close enough for an African discovering money. Actually, Hela moja=1 cent
Used to collect mateni na ndururu kununua sweets....koo, Sweets zilikuwa za green na patcos za white
 

DeepInYourMind

Chief Lister
Ata mimi leo naita kafment people coz we need to be a bit realistic.
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The 'kafment' people are the majority in this forum, and the other one before the migration. That they claim they are anti-govt is a mute point, because they spoke loudly by their actions. They knew that their actions have consequences as adults, and lined up thrice to elect the govt. They now cowardly criticize anything govt instead of admitting complicity in the crime they claim has happened.

Wakenya are a funny lot
 

It's Me Scumbag

Chief Lister
The 'kafment' people are the majority in this forum, and the other one before the migration. That they claim they are anti-govt is a mute point, because they spoke loudly by their actions. They knew that their actions have consequences as adults, and lined up thrice to elect the govt. They now cowardly criticize anything govt instead of admitting complicity in the crime they claim has happened.

Wakenya are a funny lot
What of us who didn't vote as a protest coz they didn't buy the 'dream'...
 
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