Big companies finally had enough of the excessive tax - page 5.

semobo

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Quote from: bhadz on July 01, 2021, 03:10:39 AM

Quote from: semobo on June 30, 2021, 06:01:54 PM

Government set the tax rates and if you are living in a democratic country then you are having the rights to select the person who is going to set all these tax rates then why we are blaming the leaders since we are the one who selected them as to be a one.

In an election, it's not everyone voted for the officials. There's a division with the votes and whoever gets the highest votes and gets the majority, it's the winner.
And that's why some of those people that didn't actually voted for them are the ones complaining that they don't like such policies that they seem to be a disadvantage to them especially in business matters like owning a casino.

That is how the democracy works and literally 51% wins over 49% if there is only two contenders and 26% itself can declare as a winner if 4 contenders have equal amount of vote banks, that is why these government wants to keep the people separated in the name of colour, religion, etc.

rodskee

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Quote from: john_nautica on June 26, 2021, 10:43:35 AM

Companies excessive taxing may be resulted from excessive taxing from the government as well. Since as mentioned that companies are trying to balance out their profit and financial responsibilities, hence the tax. But I think one way to look at the extremeness ordered of taxing is due to the degree that the government is taxing the company in turn.

Lol enough of companies , because they are not the one who suffers from taxation so they don't have to act as victim here .

because if there is one that can be called as victim those are the players and the consumers since the company will only put the expenses towards them so suffer from taxations .
and besides if there are someone that will be on the edge of losing it is us gamblers .

Kyraishi

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They might as well just tell all of the gambling operators to exit the scene altogether.

Quote

In a bid to raise cash for the financial year

If Kenya were really serious about raising revenue then they could be doing this way smarter. Heck, just position yourself as a haven for these gambling institutions by providing a reasonable corporate tax rate and you should be raking in millions if not billions in revenue straight away.

I don't get these governments sometimes. Revenue raising is so easy if you just play your cards right - have a robust regulatory framework, be open-minded, and don't be greedy.

bhadz

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Quote from: semobo on June 30, 2021, 06:01:54 PM

Government set the tax rates and if you are living in a democratic country then you are having the rights to select the person who is going to set all these tax rates then why we are blaming the leaders since we are the one who selected them as to be a one.

In an election, it's not everyone voted for the officials. There's a division with the votes and whoever gets the highest votes and gets the majority, it's the winner.
And that's why some of those people that didn't actually voted for them are the ones complaining that they don't like such policies that they seem to be a disadvantage to them especially in business matters like owning a casino.

TopT3ns

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I think when the government withdraws from very high taxes for a company then I am very sure that the money can be used to cover the state debt and what is important for the development of the country you live in because the country will not be able to develop when there is no help from the people, suppose tax as our help to create a better country.

Webetcoins

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Quote from: Sled on June 30, 2021, 11:06:08 PM

the government must take a look at the situation because what they are doing now is just like they are milking the people thru huge taxes.

Governments in the countries like Kenya may not have other streams for sustaining income which must be the reason, they try to make the most out of available opportunities. The other reason I heard to justify their act is, when the taxes are huge and in the end the gamblers are final bearer of those taxes which might lead them to gamble less (at least in comparatively less number of occurrence).

At the same time, for millionaire-billionaire gamblers such a hike in taxes is not at all a concern. Such gamblers must be in very less number still I guess trying to milk out of them is not a worrying sign in my opinion.

Sled

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Quote from: semobo on June 30, 2021, 10:02:24 PM

Quote from: TopT3ns on June 30, 2021, 06:46:38 PM

I think when the government withdraws from very high taxes for a company then I am very sure that the money can be used to cover the state debt and what is important for the development of the country you live in because the country will not be able to develop when there is no help from the people, suppose tax as our help to create a better country.

So as a government what is your job if you are always going to take money from the people's pocket without giving them more opportunities to make money. Actually the tax is for the people who is having money to pay the government but now a days it turned into upside down, the middle class people is paying more taxes than a billionaires.

Poor people had suffered the most and pay taxes more than these rich people could pay.
There is no problem asking for the tax because it was our obligation, however, it was big enough to collect from the poor and middle class especially during this crisis. Supposedly, the government must take a look at the situation because what they are doing now is just like they are milking the people thru huge taxes.

Sithara007

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The world is again moving to a high tax-regimen, after gradual reduction in the tax rates during 1990-2020 period. Even in the United States, Joe Biden has proposed to increase the corporate tax from 21% to 28%. And not only that, the American regime is even forcing other countries to increase their tax rates. In the European Union, they are cracking down on corporations which use low tax jurisdictions such as Luxembourg and Ireland to lessen the tax bill. In the near future, we can expect tax further increases and big government spending. The pandemic has now given justification for the governments to do the same.

semobo

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Quote from: TopT3ns on June 30, 2021, 06:46:38 PM

I think when the government withdraws from very high taxes for a company then I am very sure that the money can be used to cover the state debt and what is important for the development of the country you live in because the country will not be able to develop when there is no help from the people, suppose tax as our help to create a better country.

So as a government what is your job if you are always going to take money from the people's pocket without giving them more opportunities to make money. Actually the tax is for the people who is having money to pay the government but now a days it turned into upside down, the middle class people is paying more taxes than a billionaires.

semobo

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Government set the tax rates and if you are living in a democratic country then you are having the rights to select the person who is going to set all these tax rates then why we are blaming the leaders since we are the one who selected them as to be a one. It may be too much from our side but to a government, there is no ethics, they just need taxes, if they are in need of more money they will increase the tax rates. So if you want everything should be done in a fair way then we need to pick the right one who can understand all these consequences of increasing the taxes.

dunfida

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Quote from: Lordhermes on June 29, 2021, 04:58:48 PM

Quote from: Hippocrypto on June 29, 2021, 04:36:09 PM

There it goes, the scenario about taxation how much more for local casino gambling and other small operations that has been paying to their government based on shady regulations. It was so sad to think that it was so unfair, for legal business who paid tax according to their willingness but has been abused without any power to refuse just because of requirements needed to ran their business. Bigger gambling companies should be law abiding, otherwise they'll be put into closure.

The government had structured everything in such a way that all gateway that brings in money into a particular country is charged with tax, most of the gambling companies in my country are heavily paying tax and they are threatened to close down the company if they refuse to pay tax. The government tax collectors also the IRS are the unfair set of corporation that act unjustly, they are all critically criminals.

They would really finding lots of ways and as much as they could as long they could impose taxes whenever there are businesses it wont matter if gambling or essential as long they can put up taxes
they would surely do it.Its just on how much they would be putting in terms of percentage and as others said it will vary on each decision because not all would really be ending up on the same.
Taxes is the blood of economy and its just understandable on how its badly needed and should be obliged for businesses to give or follow on whats mandated.

Lordhermes

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Quote from: Hippocrypto on June 29, 2021, 04:36:09 PM

There it goes, the scenario about taxation how much more for local casino gambling and other small operations that has been paying to their government based on shady regulations. It was so sad to think that it was so unfair, for legal business who paid tax according to their willingness but has been abused without any power to refuse just because of requirements needed to ran their business. Bigger gambling companies should be law abiding, otherwise they'll be put into closure.

The government had structured everything in such a way that all gateway that brings in money into a particular country is charged with tax, most of the gambling companies in my country are heavily paying tax and they are threatened to close down the company if they refuse to pay tax. The government tax collectors also the IRS are the unfair set of corporation that act unjustly, they are all critically criminals.

toast

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Companies excessive taxing may be resulted from excessive taxing from the government as well. Since as mentioned that companies are trying to balance out their profit and financial responsibilities, hence the tax. But I think one way to look at the extremeness ordered of taxing is due to the degree that the government is taxing the company in turn.

Hippocrypto

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There it goes, the scenario about taxation how much more for local casino gambling and other small operations that has been paying to their government based on shady regulations. It was so sad to think that it was so unfair, for legal business who paid tax according to their willingness but has been abused without any power to refuse just because of requirements needed to ran their business. Bigger gambling companies should be law abiding, otherwise they'll be put into closure.

Lucasgabd

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There's no need to be upset

Quote from: KTChampions on June 25, 2021, 11:12:18 AM

Quote from: chaser15 on June 24, 2021, 05:35:28 PM

Quote from: KTChampions on June 24, 2021, 04:34:59 PM

Even if it is completely legal. I think the loopholes that allow this to happen should be closed.

There are no loopholes in my opinion as I search about it, tax avoidance has legal ways to done properly. And in case the government will know this, it won't be subject to closure since that business who do some tax avoidance still comply with paying tax. They don't evade it.

It's a famous practice of some businesses today for years especially those in the middle tier. As long as these businesses are updated with their tax commitment, they won't be subject to closure even they are doing tax avoidance since they don't evade it.

Are you sure about this? Recently i read an article where it was shown that Microsoft working in Iceland paid exactly 0 dollars (in Iceland). I understand that Microsoft is an international corporation and it paid taxes somewhere else, but this is unlikely to suit the residents and the government of Iceland.

there are tons of loopholes and it's quite naive to think governments will be able to close it all.
specially for digital business its somehow not that hard to find ways to pay no taxes, you'll still need money to pay for accounts offshore, and its possible to do it all legally

for physical products its always hard but sometimes feasible

Silberman

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Quote from: Desmong on June 26, 2021, 07:14:30 AM

Quote from: johhnyUA on June 25, 2021, 02:51:37 PM

Quote from: fiulpro on June 13, 2021, 01:24:37 PM

What do you think ?

This is too much for common sense, i think. I mean that this point "“Excise duty on betting at 20% of the amount will be wagered,”" is beyond good and evil. In all normal countries casino pay tax for their income and in some EU countries gambler pays VAT from what he won. Not from total wager amount, this would be too stupid.

We all know that it's still from the gamblers' money that betting companies pays their workers, ads placement and other expenses that is being made. By imposing such a strict and exorbitant tax rate is detrimental to betting companies and also the gamblers because the companies will also look for ways to maximize their profits in order to balance their projection.

And this will reduce the amount of money gamblers bet and the amount of gamblers as well, sometimes I wonder if the people behind the laws actually know what they are doing or if they just makeup whatever it is on their minds without going through the trouble of consulting an expert to see if what they are doing makes sense, governments raise taxes in order to increase the amount of money they get out of an industry and things like this do the opposite, destroy jobs and makes any sane person that wants to open a business think about it twice.

owengtam09

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Quote from: Yogee on June 13, 2021, 01:45:23 PM

Quote

In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.

I understand that people can become emotional everytime they see tax hikes or new taxes to be implemented but can we have the numbers before and after the tax was removed?

The proposal would tax the gamblers and not the casino or bookie. These companies thinks it would affected indirectly since one of the aim of the law is to discourage players but does that really stop them from gambling?

I guess this is only their way to lessen the gamblers online, so, the proposal would tax gamblers and not the casinos. They think that it will affect gamblers and maybe it can also be effective in others. For me, it will lessen the gamblers playing because of it, even I will think if it is still worth to play gambling with a high taxes.

goinmerry

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Quote from: johhnyUA on June 25, 2021, 02:51:37 PM

This is too much for common sense, i think. I mean that this point "“Excise duty on betting at 20% of the amount will be wagered,”" is beyond good and evil. In all normal countries casino pay tax for their income and in some EU countries gambler pays VAT from what he won. Not from total wager amount, this would be too stupid.

If I understand it correctly, there's a certain winning amount for it, not 20% for every amount won because what if the winnings is just small.

But generally, the purpose of that terms is to discourage betting that's why they imposed a crazy tax like that.

Several months from now, let's see if that will really minimize and discourage betting on their place.

nikrobi

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Quote from: fiulpro on June 13, 2021, 01:24:37 PM

They are now asking the government to reconsider it.
{This is exactly the kind of news we need because this shows how the democratic countries can move forth and oppose such things, not always the tax is legit if served by the government during such times}

When politicians glimpse a new way to enrich the government safe boxes, they surely will try to perpetuate the "operandis mode". During this Pandemic period society faced and faces a roll of economic changes which appeared to improve or to get worse the financial relations among citizens and companies.

In this case spefically, anyone could predict that governments would have to compensate the huge expenses with the virus. So, on my thoghts, they targeted whatever they consider superfluous activities and then overtaxed those.

For sure, now is time for governments review this Pandemic Economic Model before it regret or paralize economies!

john_nautica

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Companies excessive taxing may be resulted from excessive taxing from the government as well. Since as mentioned that companies are trying to balance out their profit and financial responsibilities, hence the tax. But I think one way to look at the extremeness ordered of taxing is due to the degree that the government is taxing the company in turn.

Topic: Big companies finally had enough of the excessive tax - page 5. (Read 2411 times)