Mike WiLL Make-It

You'll think I'm a slob:
Dropped the Mike:
Aspiring Polymath

[Mike WiLL Make-It @MikeOigo]

The nirvana you get from updating a book you're currently reading to read on @goodreads >>>>

[ابو كيميتش @07jk6]

من فين طلع لنا ذا ؟؟ اعوذ بالله

[Mahir 🇹🇷🇬🇧 @ScrewderiaF1]

Me explaining to bro how the Kardashian curse and Ferrari curse canceled each other out

[Mike WiLL Make-It @MikeOigo]

@Dr_AustinOmondi Hawakufanya that thing they do with their fingers ati to mean "clock it"?

[Julians Amboko @AmbokoJH]

Should the taxpayer still bear the burden of proof in instances where a tax dispute with the Revenue Authority is based in pre-populated & third party data?

In my submission before the National Assembly's Finance & Planning Committee on behalf of the Tax Research Centre at @StrathU, I argue that Finance Bill 2026's proposals seeking to anchor Incomes & Expenses Validation in law will be incomplete if they do not include a proposal for the the Revenue Authority being saddled with the burden of proof in such instances.

Here's why:

· Finance Bill 2026 proposes to amend Sec75 of the Tax Procedures Act to provide that the Revenue Authority may use technology to pre-populate tax returns on behalf of a person required to submit or lodge a tax return

· Finance Bill 2026 further proposes that a person required to submit or lodge a tax return may rely on pre-populated return generated by the Revenue Authority to file their return

· Finance Bill 2026 proposes to amend Sec112 to provide that the Cabinet Secretary of the National Treasury may make Regulations for the procedure for the submission or lodging of returns based on pre-populated tax returns generated by the Revenue Authority

Here's where the problem is:

· In all this, Sec56(1) which provides that "In any proceedings, the burden shall be on the taxpayer to prove that a tax decision is incorrect" remains unchanged

· Sec56(1) is predicated on the fact that Kenya has been running on a self-assessment based regime & the data upon which tax disputes emerges was held by the taxpayer

· With Incomes & Expenses Validation & the onset of a Dual Assessment regime in Kenya, taxpayers are now exposed not just to errors of judgement & data on their part, but also errors of technology & transmission which are out of their control

· Can we really still have the burden of proof lying exclusively with the taxpayer in an environment where tax compliance has shifted from a function of record keeping to one where system integration reliability is now a key factor?

[Mike WiLL Make-It @MikeOigo]

@RamzZy_ Unalia sana. Didn't see these much tweets about Arsenal throughout the season. Keep tweeting, it'll hold back the tears it seems so. I love it.

[Arsenal @Arsenal]

This belongs to all of us.

[Iman | ايمان @nana_alaouie]

In hell you are forced to watch Arsenal defend a one goal lead

[UEFA Champions League @ChampionsLeague]

Arsenal are Champions League finalists 👏

#UCL

[Mike WiLL Make-It @MikeOigo]

@KiyaiJesus3 @CaptainKipkorir Read the Government Owned Enterprises Act passed last year November you'll understand why.

[Nyakwar Japuonj @PhanHerine]

One of my favourite topics...Prayer and how to pray because it is something that I also struggled with for a while. So let me do a ka-mini thread. I write this from the pov of a believer.

[Julians Amboko @AmbokoJH]

There's a very interesting petition before the High Court.

Dr. Magare Gikenyi is challenging Sec56(1) of the Tax Procedures Act & the fact that by law, the burden of proof is placed on the taxpayer.

In essence, Dr. Gikenyi is challenging the fact that KRA assessments are presumed correct unless the taxpayer provides contrary evidence.

Dr. Gikenyi is arguing that this provision is unconstitutional to the degree that Article 50 of the constitution requires that everyone is presumed to be
innocent until proven otherwise & in effect, it deems the taxpayer guilty until the prove otherwise.

Dr. Gikenyi is arguing that this provision has created window for KRA to come up with "ridiculous
figures and exaggerated figures" which create enormous burden on the taxpayer to counter.

Musings:

· I am keenly waiting to read KRA's responses on this petition. The National Assembly's will be equally interesting. The traditional "presumption of correctness" hinged on the view that the taxpayer is the final repository of all information regarding their compliance is being challenged

· Jurisdictions such as Austria & France are often considered to provide the gold standard when it comes to saddling the Authority with the burden of proof

· Could a split burden of proof regime be the way to go. There will be key lessons here from the likes of Finland & Sweden

· Finally, may Justice David Majanja continue resting in peace. This one would have been fun if it went before him

[OCTOPIZZO @OCTOPIZZO]

Hizi roots deep sana bana, ata wale wa ku Shrub hawaezi ngo’a
#GwengFest 🔥🔥🔥

[Mike WiLL Make-It @MikeOigo]

@DearS_o_n Dubai first

[Mike WiLL Make-It @MikeOigo]

@Zena_Cheruiyot 0⁰⁹

[Mike WiLL Make-It @MikeOigo]

@Zena_Cheruiyot It's not

[Official Kenya Airways @KenyaAirways]

A touching moment in the skies as Captain Webster Otugha sings the late Rt. Hon. Raila Odinga’s favourite song onboard.

[Mike WiLL Make-It @MikeOigo]

@HEBabuOwino Kiguathi rd from shooters utawala is shit

[Mwango Capital @MwangoCapital]

Kenya Reinsurance H1 2025 Results [KES, YoY]

—Insurance Revenue: -14.8% to 6.3B
—Insurance Service Result: -50.0% to 303M
—Investment Income: +4.2% to 2.7B
—Net FX Loss: 22.2M (H1 24: 844M)
—Net Profit: +49% to 1.5B
—EPS: -26.3% to 0.28
—Assets: +3.1% to 68.9B

[bukayo @mut1nda]

whoever designed and built these free, clean and accessible washrooms in narok may the universe bless you...you've brought joy to so many of us (peep the cute kids section its so rare to see a place that thinks about kids in kenya lmao)

[Ndindi Nyoro @NdindiNyoro]

KCB BANK & EQUITY GROUP SHOULD MERGE: KCB Group just announced 1st Half Results today recording a Ksh 32.3Bn PAT. Equity Group released the same earlier in the week recording a Net Profit of Ksh 33Bn. Growth is being fueled by regional Subsidiaries like DRC etc.

Interestingly, KCB's shareholders Funds are now over Ksh 300Bn while the market Capitalisation is at Ksh 158.5Bn by the close of the market today. The bank is therefore trading at around 0.52 Price to Book value.

Equity Bank's Shareholders Funds are at Ksh 274Bn and Market Capitalisation of 205Bn. The share is therefore trading at 0.75 to Book value.

Several things.

1. The current trend of the Stock market is dividend driven. Shareholders are not necessarily interested in growth strategy but by the bottom line that end in the pocket.

2. Both banks are trading at around discount. Below 1 to Book value.

3. Both companies are now singularly almost as Profitable as Safaricom PLC. They are peers on profitability. However with a market cap of Ksh 1Trillion, Safaricom is valued 5 times more than either.

4. KCB has an asset Base of Ksh 2Trillion. Equity Bank has Assets of Ksh 1.8 Trillion.

What should happen - Own Opinion.

With growth being fueled by the regional Subsidiaries, probably either of the bank should attempt a takeover on the other or they both agree to merge. Below are the reasons;

1. A KCB - Equity Group would optimise of cost especially in regards to branch network, IT etc.

2. The combined group would increase margins especially in regional markets like DRC where they are number 1 and 2. Why compete when they can take low lying fruits?

3. The group would form the largest Bank in Africa outside of South Africa.

4. The group would literally run the Financial sector in Africa.

5. With a combined asset Base of Ksh 3.8 Trillion and a combined capital base of over Ksh 580 Billion, it would be a consequential group to lend to huge development projects including lending to sovereigns.

6. With a Net Profitability of over Ksh 120Bn a year, the group would have enough muscle to even take on South African banks like Standard Bank further entrenching dominance. One year profit would be enough to take over Access Bank or UBA Group.

7. The group would place Kenya as a very serious economy, especially in the financial sector. And then to other sectors.

Bottom line - Dr. James Mwangi or Mr. Paul Russo must do something to make this happen. It would be superb for our country on the African map. We can deal with competition issues later. For now, give Kenyans a KCB - Equity Group.

Congratulations to both great Kenyans. They are already doing great for the Kenyan Economy.

We are African and Africa is our Business..