Possible to pay 0 income tax in Kenya?

[Ngimanene na Muchere]

Queeschion.... If kadynasty can have minimum pay from his company that's publically traded or has a substantial share ownership in a publically traded company, can he go to the bank and obtain a huge loan at negotiated interest rates (very low interest rates) secured against the shares owned in the traded companies? Would the loan be construed as income? @Okiya @Aviator

 

[Okiya]

Sijaelewa swali

 

[Ngimanene na Muchere]

Sijaelewa swali

How's a loan recognized as by KRA?

 

[Afro]

Sijaelewa swali

Anauliza if shares can be used a collateral and if kuna mahali KRA huhusika when applying for loans

 

[Ngimanene na Muchere]

Anauliza if shares can be used a collateral and if kuna mahali KRA huhusika when applying for loans

If they consider them as income

 

[Ole Waru]

That's a common tactic used by the super rich, not sure if it's exploitable here in kenya

 

[wrongturn]

Anauliza if shares can be used a collateral and if kuna mahali KRA huhusika when applying for loans

to apply for any bank product KRA pin is a must, so they'll one day know you applied for a business loan if you come to their crosshairs

 

[Ngimanene na Muchere]

to apply for any bank product KRA pin is a must, so they'll one day know you applied for a business loan if you come to their crosshairs

That's fine, but is it income?

 

[wrongturn]

That's fine, but is it income?

a loan is not an income

 

[Ngimanene na Muchere]

a loan is not an income

So you can secure a huge loan at low interest rates against shares and live like a King and no one will touch you.

 

[wrongturn]

So you can secure a huge loan at low interest rates against shares and live like a King and no one will touch you.

yep,

 

[Ngimanene na Muchere]

yep,

Better than 30% income tax

 

[AU5]

So you can secure a huge loan at low interest rates against shares and live like a King and no one will touch you.

kuna mtu alisema a bank will give you a loan to buy land but never a loan to buy their own share