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{
    "id": 1003151,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1003151/?format=api",
    "text_counter": 235,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Speaker, I want to go on to the other proposals. I am still on the Income Tax Act. As I finalize on this, there were several tax deductible benefits which were given like subscription or entrance fees applicable to associations and other legal costs. Other incidental expenses that were being exempted to encourage certain investments especially in clubs, Capital Markets Authority (CMA) and others were also allowable so that people could be encouraged to invest in Corporate Social Responsibility (CSR) activities. This Bill is proposing to remove them. However, there are certain ones, especially those that are covering investments in CSR where anybody who invests in construction of public schools, hospitals, roads or similar amenities are given that benefit of deducting that cost when computing taxable income."
}