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{
    "id": 804792,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/804792/?format=api",
    "text_counter": 70,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) Mbarire",
    "speaker_title": "",
    "speaker": {
        "id": 78,
        "legal_name": "Cecily Mutitu Mbarire",
        "slug": "cecily-mbarire"
    },
    "content": "The Tax laws to be amended by this Bill are as follows: The Income Tax Act (Cap 470), The Stamp Duty Act Cap (480) and the Value Added Tax (VAT) Act, 2013 (No.35 of 2013). In summary the Bill seeks to amend the Income Tax Act to introduce a tax on winnings and to enhance the tax incentive to home ownership. The Bill seeks to amend the Stamp Duty Act to provide an incentive to first time home owners and amend the VAT Act 2013 to move some categories of items listed in the Schedule of the Bill from zero-rated VAT status to tax exempt. This is in order to limit zero-rating to exports. Further, the Bill seeks to focus the expansion of the exemption bracket by capturing those supplies that are currently zero-rated or standard-rated. Hon. Speaker, I now seek to highlight the proposed amendments contained in this Bill. One, the proposed amendments to the Income Tax Act proposes to introduce withholding tax on winnings from betting and gaming at a rate of 20 per cent for non-resident and resident persons. This measure reflects the Governments intention to benefit from the growing betting industry through additional tax collections. This measure was already in the Income Tax Act, but was repealed due to implementation challenges and subsequent measures to tax the betting and gaming companies on their revenue."
}