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{
    "id": 1003309,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1003309/?format=api",
    "text_counter": 393,
    "type": "speech",
    "speaker_name": "Nominated, FORD-K",
    "speaker_title": "Hon. (Ms.) Nasri Ibrahim",
    "speaker": {
        "id": 13173,
        "legal_name": "Nasri Sahal Ibrahim",
        "slug": "nasri-sahal-ibrahim"
    },
    "content": "introduce this tax on small-scale traders, they are going to lose hope and abandon the businesses. They cannot pay for the business premises and pay workers, and this will have a negative impact on fellow Kenyans. Recently, I saw some youths whose businesses were blacklisted simply because they were late in paying taxes. Are we encouraging our youth to do their businesses or discouraging them? By doing this, we are encouraging the youth to become thugs. That is why we have a lot of insecurity in this city. I discourage taxation of small-scale businesses. Unlike instalment tax, which is an advance tax, the Minimum Income Tax has not been specified. I do not see why they call it advance tax that can be applied against the future of liability. Hon. Temporary Deputy Speaker, the other issue I want to talk about is the proposal to tax income earned by financial institutions, fund managers, investments, banks and building societies, with respect to home ownership plan deposit. This will reduce the income available for distribution to depositors as interest negatively impacts their ability to purchase homes and adversely negates the efforts by the Government to promote affordable housing in the Big Four Agenda. The other issue I want to comment on is the tireless men and women who serve our country and who upon retirement are forced into unprecedented economic challenges. When you introduce tax to an old person who is already struggling with life, you are making him more of a peasant. That will frustrate even us senior civil servants and politicians. When you retire and the small peanuts you are getting from the Government are taxed, you end up losing your house and are unable to pay your rent and bills. That will really discourage the old people from retiring. I support the Bill."
}