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{
    "id": 804795,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/804795/?format=api",
    "text_counter": 73,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) Mbarire",
    "speaker_title": "",
    "speaker": {
        "id": 78,
        "legal_name": "Cecily Mutitu Mbarire",
        "slug": "cecily-mbarire"
    },
    "content": "The proposed amendments to the First Schedule of the Income Tax Act seeks to exempt from capital gains tax and compensating tax licensed Special Economic Zone developers or operators. This proposal seeks to ensure that the impact of the granted tax incentives is not lost at the point of dividend distribution or safe of a stake to other potential investors. The Bill further seeks to amend Section 117(1) of the Stamp Duty Act Cap in order to exempt first time home owners under affordable housing schemes from payment of stamp-duty. As part of the Big Four Agenda the amendment is meant to provide an incentive to first time home owners as it will reduce the transactional costs incurred in the purchase of homes."
}