Mutethia Kimathi

God fearing/ EIA&EA Expert & GIS Consultant and Entrepreneur

[Mutethia Kimathi @CoffeeAddictKE]

@Songoks50 @georgediano What do you mean by "something"? And by "who"?

[Mutethia Kimathi @CoffeeAddictKE]

@Maryian96 Acha izo. The dude looks zero EFFs from Ndindi

[Mutethia Kimathi @CoffeeAddictKE]

@SingoeiAKorir @ForeignOfficeKE Funikia hio meno kwanza.

[Mutethia Kimathi @CoffeeAddictKE]

@sholard_mancity Tell that that her prettiness madam Ichungwa. When that dude stands in parliament, I shudder in my vests on what clit' was stimulated such that he never sees the sense in what is forinstant mentioned here. #Ipoasiku

[Mutethia Kimathi @CoffeeAddictKE]

@VincentAwange @SokoAnalyst He did me good. He is located near my office. Good man, he is.

[Mutethia Kimathi @CoffeeAddictKE]

@polo_kimanii Stop hating. Do something constructive with that energy. Grow a pair bro. Mwaf is here to stay. Hatumuachilii. Iko nini! @Mwafreeka is our ninja. What are you @polo_kimanii doing? Just typing and posting. Do some f*%kg content, and be consistent before you come here.

[Mutethia Kimathi @CoffeeAddictKE]

@hon_wamuchomba Gakunia again. Coz what else best discribes your recent shift from the course.

[Mutethia Kimathi @CoffeeAddictKE]

@j_lornz @Mrembopads Congratulations @j_lornz May this be the start of a conglomerate. More favor, more success.

[Mutethia Kimathi @CoffeeAddictKE]

@IAmSagzee @MathuAlfred Absolutely. The psychology pressure brought up by FOMO is the leading course of all the drama. Its a priority game.

[Mutethia Kimathi @CoffeeAddictKE]

@FAbundances @EugeneOngeri Redbull atb350/pc is fair. Use what is on plain sight to get the reason for the punched receipt/invoice.

[CPA Wachira Joseph @WashiraX]

KRA is not playing with Naivas.

You know Naivas. Hii tu moja.

It was a fully family owned supermarket giant.

When the time came to cash out, the owners weighed their options.

If they sold the supermarket from Kenya, they would pay insane taxes.

So they went shopping for low tax countries. And Mauritius presented itself. It was irresistible.

- 0% tax on sale of the company.

In 2015, the family registered a shell company in Mauritius. Called it NIL.
Then transferred all their shares to this company.

So Naivas was now 100% owned by a Mauritian company.

To make it even tighter, they added another layer.

They set up a second shell company. Called it GFI.
And transferred all NIL shares to GFI.

So now:
• GFI owns NIL
• NIL owns Naivas Kenya
Proper entanglement. Achana na hiyo yako.

As all this is happening, they are unaware of one dangerous sentence sitting quietly in Kenyan tax law.

It reads:

• Any company managed and controlled from Kenya is a Kenyan resident company.

Then the family went looking for a buyer.

In 2020:
• They sold 30% of the supermarket for 5.2B
• By selling 30% of NIL shares

So:
- Naivas is still owned by NIL
- But NIL now has a new shareholder

And everything happened in Mauritius quietly.
Nothing has changed hands in Kenya trigger anything.

• Deal is closed. 0 tax.

Bahati mbaya, KRA caught wind that Naivas is gone.

Immediately, KRA embarked on a fault finding mission.

In 2022, KRA discovered that:

- The family has always lived in Kenya. Not Mauritius.
- They managed and controlled every single operation of the shell companies from Kenya

They invoked the one dangerous sentence.
You remember it?

• Any company managed and controlled from Kenya, is a Kenyan resident company.

KRA said:
• These Mauritius shell companies are Kenyan
• They must pay tax in Kenya

Tax demanded: 30% of 5.2B. Plus penalties

• Total Bill: 1.8B

Naivas ran to court.

The court looked at it, and sided with KRA.

Family wakaabiwa walipe tax.

Case closed!

Lesson.

• Structure your offshore company properly.

• Or KRA will structure it for you.

[Mutethia Kimathi @CoffeeAddictKE]

@msnmongare @WashiraX Where can one have a look at your portfolio? Am interested more in automating client interaction.

[Mutethia Kimathi @CoffeeAddictKE]

@lordvatts Talk to me. I can shed light.

[Mutethia Kimathi @CoffeeAddictKE]

@slimvnsn Men have a way of dealing with their demons. The best way to appreciate him is allow yourself to come to terms with the fact that you to "IS NOT IMMUNE TO SUCH A WAY OF HANDLING YOUR DEMONS". Fathers arbour so much in their hearts. But the best ones, remain in our lives.Kudos bro

[Mutethia Kimathi @CoffeeAddictKE]

@DerrickShabz Wewe na hio masomo ulifaa kuuza jaba

[Mutethia Kimathi @CoffeeAddictKE]

@critic_smart @ledamalekina Kabisa. Wacha kujifanya poko ameokoka last Sunday.

[Mutethia Kimathi @CoffeeAddictKE]

@bungomaduke Does his govt remit loans that are ch3ck3d off my payslip? If so, why are banks calling us? Wacha kutukoroga nanii

[Mutethia Kimathi @CoffeeAddictKE]

@CopShakurkihara I conquer with you.

[Mutethia Kimathi @CoffeeAddictKE]

@JCarhire Absolutely