Saka

My word is my bond.

[𝚔𝚒𝚛𝚞𝚝𝚒 @kiruti]

Got to love Americans. They are like kids, you have to explain everything to them

Reminds me of what Michael McIntyre said 💀

[AFC Eze @eberefanpage]

FIRST PREMIER LEAGUE TROPHY IN 22 YEARS 🏆

THANK YOU GOD🙏

[Leandro Trossard @LTrossard]

GUNNERS, WE ARE PREMIER LEAGUE CHAMPIONS!! 🏆💭❤️

[Arsenal @Arsenal]

The Arsenal. Your Premier League champions.

[Mac Otani 🇰🇪 @MacOtani]

Sasa Arsenal Jersey tunavaa for three months non-stop; hakuna kuvua, hakuna kufua!!! @Arsenal @premierleague

[Premier League @premierleague]

The wait is over.

@Arsenal are Premier League champions.

[Arsenal @Arsenal]

Arsenal: 2025/26 Premier League champions.

[Saka @eyezacch]

@ignyharaz2 Hello

[Julians Amboko @AmbokoJH]

In what circumstances can KRA deem all deposits into your bank account as income & therefore taxable?

The judgement on appeal E1116/2024 (Kirin Pipes Limited vs KRA Commissioner Intelligence Strategic Operations Investigations & Enforcement) before the Tax Appeals Tribunal is one I think every Kenyan needs to read.

The Big Issue:

· The issue at hand is a crucial one - In what instances can KRA deem all deposits into a bank account as income & therefore taxable?

The Contention:

· KRA conducted an investigation into Kirin Pipes Limited's tax affairs for the period 2019 - 2022 & issued assessments for income tax of Kes 34,300,288 & VAT of Kes 22,687,105

· Kirin Pipes Limited went before the Tribunal arguing that KRA made an error by assuming that every deposit made into its bank accounts amounted to income capable of being charged tax

Kirin Pipes Limited's argument:

· The company commenced its operations in 2019 during which shareholders injected share capital. The ordinary share capital was Kes 10.0 Million but the company required further capital & therefore shareholders deposited a further Kes 29,425,495.45 into its bank account

· The company therefore argues that the deposit of Kes 29,425,495.45 was not income but capital injection

· During its formative years, the company required funds to help cover the initial setup costs & operating expenses & sought for a Kes 31,697.392 loan from Nanchang Municipal Engineering Development

· The company therefore argues that this deposit ought not be subjected to income tax by KRA since it was a loan

· The company also argued that it received funds from its shareholders totalling Kes 24,619,662 to fund its operations & that the said amounts were not income but shareholders deposits

The Verdict:

· The Tax Appeals Tribunal held that Kirin Pipes Limited failed to provide an analysis of the specific deposits which related to capital injections & to link the deposits to the shareholders who are indicated in the Official Company Search (form CR12).

· The Tribunal observed that Kirin Pipes Limited provided uncertified bank statements & swift confirmation slips which could not be attributed to capital deposits in the absence of other corroborative documents such as an analysis & description of the deposits, Meeting Minutes/ Resolutions or any other document to demonstrated that indeed the amounts in question were capital injections

· The Tribunal held that it was incumbent upon Kirin Pipes Limited to demonstrate the flow of capital from its shareholders & how the same was eventually accounted for by the company

· The Tribunal also held that Kirin Pipes Limited failed to provide evidence of the resultant shareholding structure after deposits by the said shareholders. Whereas Kirin Pipes Limited submitted form CR12, it only showed the initial capital of Kes 10.0 Million

· Tribunal found that Kirin Pipes Limited failed to prove that deposits worth Kes 54,045,101.45 in its bank accounts during the period under review were attributable to capital injection from its shareholders

· The Tribunal established that whereas Kirin Pipes Limited argued that a deposit worth Kes 31,697,392 was a loan from Nanchang Municipal Development Corporation, the documents indicated that it was interest free & the same could be repaid at any time at the discretion of Kirin Pipes Limited

· The Tribunal held that such open terms in the loan agreement made it difficult to verify whether the amount was indeed a loan, given that there was no interest charged & neither was there a repayment period

· Tribunal also pointed out that from the date the loan agreement was signed in 2019 to the date of assessments in 2024, Kirin Pipes Limited did not provide proof of any repayments it made towards the said facility

· The Tribunal therefore found that the documents tabled by Kirin Pipes Limited to support its claim that Kes 31,697,392.00 of the deposits in its accounts were proceeds of a loan advanced were insufficient & did not meet the evidential threshold of disproving that the loan was income chargeable to tax

· In sum the Tribunal found that KRA did not err in treading all deposits into Kirin Pipes Limited's bank account as income & therefore taxable

[Arsenal @Arsenal]

Save the dates 👊

Our 2025/26 Premier League fixtures 📋

[𝗨𝗡𝗗𝗘𝗥𝗥𝗔𝗧𝗘𝗗 𝗡𝗜𝗡𝗝𝗔 @iamjoseh_]

Ukiwa na Android/Google Tv. You install CRICFy TV, SmartTube, and Onstream then invest in a good and reliable internet and you will live happily. Goated apps

[Better Start Today @BetterStartHQ]

Your entire perspective about life will change once you understand this.

[I am Africa and Africa is me. @TedQuinton]

So you're Mobutu in 1961 having just toppled Lumumba(with CIA help ofcourse). But you need a strategy to stay in power & to eat from largesse of Congo. So,you create a series of laws marginalizing the Banyarwanda,predominantly living in the East,they speak the same language as 🇷🇼

[Shoba Gatimu @shobanes]

If you are buying a kitchenware with the current black friday deals, get cooker with electric plate. 3 gas, 1 electric. Avoid gas ovens. Fridge: There is an efficiency rating sticker. Avoid anything less than 4 stars/ (A+) rating. Minimum 5 years on compressor warranty.

[QuantifyIQ Π 🇰🇪✊🏿 @dnahinga]

#MjengoEstimates

Ladies and Gentlemen followers of @Amerix

Allow me to weigh in on this conversation and bring some Clarity strictly from a Cost Perspective.

Learn what you may. 🧵🪡🧶

#MjengoThread

[derek guy @dieworkwear]

I've addressed this many times and have been reluctant to use people's videos, as they're often made by regular people who are just trying to have fun. But this is a famous content creator with 1M followers, so I feel better about showing why this doesn't work. 🧵

[Sun Tzu @ItsChanzu]

Like?😂😂😂😂😂

[Gichuki Kahome @kahome_steve]

Instead of a bank's savings account, use a Money Market Fund for your savings

Instead of a bank's fixed deposit account, lock your money in a Treasury bill

Instead of a chama that does merry go rounds, save your money in a SACCO or MMF.

Instead of an endowment plan, have a personal investment portfolio

Instead of an Individual Pension Plan, have a personal investment portfolio for your retirement kitty.

[Learn Something @cooltechtipz]

Brain development games to play with your children