Kuuliza sio ujinga

[Mwendawazimu]

Are there any benefits in registering your assets under your company instead of your name?? Does kra have tax relef or something like that for company assets being sold/ bought?

 

[bigDog]

Are there any benefits in registering your assets under your company instead of your name?? Does kra have tax relef or something like that for company assets being sold/ bought?

Hata mimi nangonja nielemishwe.

 

[bigDog]

Watu wa CPA kujeni.

 

[Okiya]

Yes. Kuna benefits. You pay lower taxes through depreciation allowance.

 

[JazzMan]

Nangoja pia mimi kuelimishwa JazzMan Industries ikuwe inanilipia expenses zote, halafu silipi tax.

 

[Afro]

niaje Okiya?

Yes. Kuna benefits. You pay lower taxes through depreciation allowance.

 

[Aviator]

Yes. Kuna benefits. You pay lower taxes through depreciation allowance.

Plus your car fuel counts as a company expense thereby lowering taxable profit.
Heck, even your home shopping can be charged to the company.

 

[Okiya]

niaje Okiya?

Safi Afro

 

[Mawaya]

Plus your car fuel counts as a company expense thereby lowering taxable profit.
Heck, even your home shopping can be charged to the company.

Then why are so many afraid of registering companies or it's misinformation?

 

[bigDog]

Let's say I have a project X and used a personal loan. Supposing I want to transfer the project to the company, can I also transfer the personal loan?

 

[Okiya]

Then why are so many afraid of registering companies or it's misinformation?

The OP already indicated that a company was in place. So the answers being given are based on that.

 

[Mwendawazimu]

Yes. Kuna benefits. You pay lower taxes through depreciation allowance.

What about land?

 

[Aviator]

Then why are so many afraid of registering companies or it's misinformation?

Misinformation.
They fear paying small monies in the name of vat, tot, etc. Not knowing the benefits outweigh these payments.

 

[Okiya]

What about land?

No tax benefits on land because land haina depreciation.

 

[It's Me Scumbag]

Plus your car fuel counts as a company expense thereby lowering taxable profit.
Heck, even your home shopping can be charged to the company.

I know a guy who does this. Niga asks for receipts for even the 'smallest' purchases done. I saw him once ask his receptionist for some shopping the lady had done for herself... He runs a those bed and breakfast hotels in Nanyuki.

 

[Cazorla]

Kuuliza sio ujinga @Mawaya ndio condoo

 

[X-TRAIL]

and if i have a company and am the md na kampuni iko na debts and i want to close it down can the debtors come after my personal property ?

 

[Mwendawazimu]

and if i have a company and am the md na kampuni iko na debts and i want to close it down can the debtors come after my personal property ?

I don't think so,if its a limited company. Lakini wacha professionals wa hiyo sector wakuhelp.