Obonyo musumba @cleophasmusumba - Twitter Profile

KRA wants a share of dowry money. There is a guy called Kamau. When it was time to buy his wife, he mobilized his most monied buddies. He put them in a WhatsApp group. The fundraising began. Those boys were loaded. They were only 35. By by the time they were done, they had contributed 4.5 million shillings. Others who were not in the group wired money directly to Kamau's bank account. The ruracio D-Day arrived. And as always, the one and only Kikuyu ruracio anthem was tuned. 🎶 Wero... Werokamu guku kwa wa Kanini... Werokamu... 🎶 Before they could finish the song, more than 2,000 people had pulled up. Wakaanza kutoa funjo. Then one man stood on a stool and announced they could not sit until they had given Kamau top up money to add to the dowry. The donation book was hurriedly brought. People lined up. Cash started flowing. By the end of the day, another 2.8 million shillings had been raised. Kamau took the money and banked it. Total dowry contribution sitting at his bank account: 8m shillings. The ceremony became the talk of Gatundu South. Kamau paid his dowry. Collected his wife. And went home peacefully. • Lesson 1. Monied friends are good for paying dowry. I have no clue how. But sometime later, Kamau was marked for a KRA tax audit. KRA went straight for his bank statements. They found deposits of 8 million shillings. Immediately, they baptized the entire amount as undeclared taxable income. Then demanded: 30% income tax. Penalties plus interest. Total bill: 2.5 million shillings plus. When Kamau saw the tax bill, he went mad. He could try to talk but words would not come out. He nearly swallowed his tongue. When he came back to real life. He shipped a protest letter to KRA. He explained the money was dowry contribution from his family, friends and well wishers. - He produced WhatsApp group fundraising screenshots. - He produced RTGS confirmations. - He produced the donation book. - He even produced videos of the ceremony. Including footage of the Werokamu song. KRA could not hear any of it. They only wanted 2.5 million. When Kamau realized KRA was not playing, he ran to court. He told the Tribunal: - My lord, look. I have shown KRA where the money came from. - I have shown KRA who contributed it. - I have shown KRA the ceremony. - What more do they want from me? KRA responded. And what they said nearly made the judges fall off their chairs. They argued the evidence was not convincing. Why? • Because the 2,000 plus donors had not sworn affidavits confirming that the money they gave was a donation and not payment for goods or services. The Tribunal looked at the matter in amusement. Then ruled. - Kamau had discharged his burden of proof in full. - KRA had acted unreasonably by ignoring and disregarding the substantial evidence he provided. - And most importantly: Income tax is a tax on income. It is not a tax on every deposit appearing in a bank account. The Tribunal found that KRA was wrong to treat all bank deposits as taxable income without first removing proven non income items such as dowry contributions. The tax demand was killed. Kamau won. KRA retreated to Times Tower. And rested. Case closed. • Lesson 2. - Document everything. - KRA will push. Push hard.

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cleophasmusumba retweeted

Moe

@moneyacademyKE

2 months ago

About 86% of all banknotes in circulation are Sh1000 notes according to latest CBK data So far Sh1000 notes in circulation are worth Sh335 billion as of Dec 2025 Other denominations Sh500: Sh16 billion (4.3%) Sh100: Sh17 billion (4.5%) Sh200: Sh13 billion (3.4%) Sh50: Sh6.6 billion (1.8%)

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