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{
"id": 1587202,
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"text_counter": 284,
"type": "scene",
"speaker_name": "",
"speaker_title": "",
"speaker": null,
"content": "(Clause 27 as amended agreed to) Clause 28"
},
{
"id": 1587203,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587203/?format=api",
"text_counter": 285,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Chairman",
"speaker": null,
"content": " Mover."
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{
"id": 1587204,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587204/?format=api",
"text_counter": 286,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": " Hon. Temporary Chairman, I beg to move: THAT, Clause 28 be amended – (a) in paragraph (b) by- (i) deleting subparagraph (ii); (ii) deleting subparagraph (iii); (b) by inserting the following paragraph immediately after paragraph (b)- (ba) in paragraph 3− (i) by deleting subparagraph (i) and substituting therefor the following new subparagraph— (i) in respect of withdrawals made by punters, five per cent; (ii) by deleting paragraph (w); (c) in paragraph (c) by inserting the following new subparagraphs immediately after subparagraph (ii)- (iii) by deleting paragraph (i) and substituting therefor the following new paragraph- (i) in respect of withdrawals made by punters, five per cent; (iv) by deleting paragraph (p); The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
},
{
"id": 1587205,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587205/?format=api",
"text_counter": 287,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "(d) by deleting paragraph (d) and substituting therefor the following new paragraph-"
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{
"id": 1587206,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587206/?format=api",
"text_counter": 288,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "(d) by deleting paragraph 13;"
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"id": 1587207,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587207/?format=api",
"text_counter": 289,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "Hon. Temporary Chairman, the clause has three very consequential amendments. First, Clause 28 initially sought to delete tax incentives that granted a preferential tax rate to companies constructing 100 or more residential units. We found this proposal to be inconsistent with the Government’s Affordable Housing Agenda. While the Government is directly providing affordable housing, we must also incentivise the private sector to do the same. Therefore, we are proposing the deletion of that clause, so as to continue granting preferential tax treatment to institutions building at least 100 units of affordable housing. Second, this clause proposes to reinstate tax incentives for the local assembly of motor vehicles. I look forward to a time when you and I, Hon. Temporary Chairman, can drive locally assembled cars. These incentives were previously withdrawn which disadvantaged the sector. Restoring them will help revitalise local vehicle assembly. Third, the amendment seeks to reduce the tax to 5 per cent of withdrawals made by punters and more importantly, to adjust the digital asset tax framework. Under the current law, tax is imposed on the full transaction value of digital assets, such as when using bitcoin to pay for goods or services. This is equivalent to taxing someone for depositing money in a bank. We are amending this so that tax is charged on the fees charged by digital asset service providers, not the entire transaction value. This is a much fairer approach. This is timely, especially since next week we expect to table a report and move amendments to the Digital Assets Regulatory Bill. I beg to move."
},
{
"id": 1587208,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587208/?format=api",
"text_counter": 290,
"type": "scene",
"speaker_name": "",
"speaker_title": "",
"speaker": null,
"content": "(Question of the amendment proposed)"
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"id": 1587209,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587209/?format=api",
"text_counter": 291,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Chairman",
"speaker": null,
"content": " Member for Kitui Central."
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"id": 1587210,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587210/?format=api",
"text_counter": 292,
"type": "speech",
"speaker_name": "Kitui Central, WDM",
"speaker_title": "Hon. (Dr) Makali Mulu",
"speaker": null,
"content": " I support these incentives, but wish to make a few observations. If you look at our motor assembly industry and the construction sector, you will find significant monopolistic tendencies. This means that while tax incentives may exist, they may end up benefiting a few companies, while the general public may not realise any meaningful benefit. As we move forward, we must open these sectors to more competition. The more firms that can benefit from these incentives, the more Kenyans will ultimately benefit. I submit."
},
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"id": 1587211,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1587211/?format=api",
"text_counter": 293,
"type": "scene",
"speaker_name": "",
"speaker_title": "",
"speaker": null,
"content": "(Question, that the words to be left out be left out, put and agreed to)"
}
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