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Wealthy Kenyans return Sh118bn stashed abroad

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Wealthy Kenyans filed to return Sh118 billion assets from foreign countries in the final year of a tax pardon, official data shows.

The value was declared for repatriation in the period ended June 2019 after the Treasury extended the amnesty process by a year.

The Kenya Revenue Authority (KRA) received 3,543 amnesty applications in the period, a report submitted to the National Assembly’s Committee on Finance and National Planning shows.

In extending the time for declaring and returning the riches stashed abroad, suspended Treasury secretary Henry Rotich had cited lack of clarity on whether the cash repatriated home should be subjected to provisions of Proceeds of Crime and Anti-Money Laundering Act.

That law requires persons transacting Sh1 million and more to declare the source of their wealth to the Financial Reporting Centre, the anti-money laundering agency.

“The amnesty was extended for a further year and assurance given that once the money is transferred, there will be no follow-up on the source of the funds,” KRA says in the report.

“The amendment was meant to allow more time for persons seeking amnesty and create favourable environment for repatriation of funds.”

The exemption, however, excluded people who accumulated riches abroad from crimes of terrorism, poaching and drug trafficking.

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“That was supposed to be a sweetener, but practicability part of it is that it was not possible because if I bring the money, you may not tell the source,” said Mr Stephen Waweru, a senior tax services manager at KPMG. “They may not have fully succeeded because of a bit of mistrust around whether it was a way for KRA to net them after they declare and go for them in future,”

The income declared from wealth abroad, including homes, during the year-long extension appears to be lower than what had been disclosed between mid-2017 and 2018.

The KRA, in a statement to the Business Daily in May, said about Sh1 trillion had been declared by 16,000 applicants since the window opened.

The blanket amnesty was initially to end in December 2017, but was extended twice to June 2019 following a delay by the taxman to issue guidelines on repatriation of wealth stashed in offshore accounts.

The forgiveness on tax and accruing penalty and interest initially targeted foreign-earned income up to the period ended December 2016, but this was pushed forward to December 2017.

by  nation.co.ke

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‘I’d wake up at 4am to go buy alcohol,’ Churchill comedian Othuol Othuol in battling alcohol addiction

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Churchill Show, Comedian, Othuol Othuol has opened up about his battle with alcohol addiction something that made him lose friends.

Othuol has been battling Tuberculosis (TB) for long as well as alcohol addiction.

Speaking during an interview with Tuko, Othuol said,

‘Can you imagine being sick and you have to pay rent and eat well but you don’t have cash.

You turn into a beggar, you beg till you cannot beg anymore.

Some fans have been very gracious because when I was sick some would just send me cash out of the blue.

Churchill paid all my hospital bills.’

Othuol Othuol
Aunti Boss actor Alloyce

Othoul added that he has now recovered from his addiction to alcohol.

‘I used to be an alcoholic, I used to sell my phone, TV and I would even sell my gas and use the money I was paid to drink.

It was a bad life, addiction is a disease. I would wake up at 4 am just to go buy Makali (alchol) .

I lost my respect and my friends.’

Othuol added that he stopped drinking after realizing he could actually survive without alcohol.

‘I stopped because sometimes I could perform after taking alcohol and some days I would not but I still performed.

So I decided to stop entirely.

I used to believe that I could not perform without drinking,so I used to hide somewhere as if I am rehearsing but I was not.

I would stop only when I was called to the stage,After performing I would then disappear after all no one would dare come and smell me.’

He added,

‘I miss the stage and I am hoping on 31st December I will perform if not I hope by January 2020 I will be back.

When you have problems you lose friends and I lost very close friends during my difficult moments.’

 

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Here’s how DP Ruto’s Daughter Performed in 2019 KCPE

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  • Deputy President William Ruto is one proud dad after his daughter, Abby Ruto, emerged as one of the top candidates in KCPE 2019, with 406 marks.Speaking to Kenyans.co.ke, Abby’s mother, Prisca Bett, was overjoyed beyond words, going on to state that she was very proud of her.
  • “Abby was confident about the results but she kept telling me that the Kiswahili paper was really hard. I knew she’d do well,” an ecstatic Prisca narrated.

    She was a candidate at Greenvalle Academy in Uasin Gishu county.

    Deputy President William Ruto. His daughter Abby was among the top performers emerged in KCPE 2019.

    She went on to reveal that her daughter’s preferred school was Kenya High School and that she was also overjoyed by her results.

    DP Ruto came clean about his daughter Abby back in 2017, going on to acknowledge that he was her father and had always ensured she had his full support.

  • The release of the national examinations came barely 17 days after 1,088,986 pupils took part in the annual exercise.

    Magoha announced that the Form One selection process was set to commence on Tuesday, November 19.

    “By December 2, every child who sat KCPE 2019 will know what school they will join. Ksh 8 Billion has been put to improve infrastructure in high school and primary school,” Magoha announced.

    Abby Ruto (l) and her mum Prisca Bett (r) pose with a Masaai.
    Abby Ruto (l) and her mum Prisca Bett (r) pose with a Masaai

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Nyeri man, 88, who killed son freed

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An 88-year-old man suspected to have shot and killed his son with arrows following an altercation has been released by the High Court on a Sh500,000 bond with a similar surety.

Mr Francis Mwangi Karebe was released by Justice Abigail Mshilla after a favourable pre-bail report indicated that his family and neighbours were willing to accommodate him and pay for his bail.

Mr Karebe is accused of murdering his 42-year-old son, Simon Macharia on October 13, 2019 at their home in Peter Ciira village Mathira East sub-county, Nyeri.

The pre-bail report filed in court by Ms Faith Nzivulu indicated that there was a long-standing strained relationship between Mr Karebe and the deceased, who was alcoholic.

“The victim had separated with his wife and it was not the first time they had an altercation but it was never suspected it would take the ugly turn. The accused lost his wife five months ago,” stated Ms Nzivulu.

In the report, the family said Mr Karebe’s continued stay at the police remand and his subsequent absence at home caused them sleepless nights.

“They are willing to accept him back, his absence is causing them sleepless nights,” the report stated.

The villagers described the accused as a peace-lover and a mediator. “Mr Karebe is aged and ailing, he has blood pressure and is currently on medication. He is not a flight risk,” said Ms Nzivulu.

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The prosecution led by Ms Emma Gicheha did not oppose the bail application. The state counsel also indicated that the accused was unlikely to interfere with the prosecution witnesses.

 “The accused is hereby advised to observe timeliness on both hearing and mention dates of the case. He should not interfere with witnesses and must be of good conduct during the bond period. On breach of the terms the bond will be cancelled,” said Justice Mshila.

The trial will start on February 10, 2019.

by nation.co.ke

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