Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1241073,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1241073/?format=api",
    "text_counter": 147,
    "type": "speech",
    "speaker_name": "Sen. Kibwana",
    "speaker_title": "",
    "speaker": {
        "id": 277,
        "legal_name": "Kibwana Kivutha",
        "slug": "kibwana-kivutha"
    },
    "content": "Thank you, Mr. Speaker, Sir. I rise pursuant to Standing Order No. 53(1) to seek a Statement from the Standing Committee on Finance and Budget, regarding withholding Value Added Tax (VAT) obligations on petroleum products and its impact on businesses. In the Statement, the Committee should- (1) State the rationale for the current withholding VAT obligation on petroleum products, stating its impact on the profitability and sustainability of businesses in the petroleum sector. (2) Provide an analysis of the impact of the 2 per cent withholding VAT on the petroleum industry, particularly in terms of job losses and negative effects on the economy, stating how changes made by the Finance Act (2021) to the Tax Procedures Act (2015) affected the petroleum industries ability to seek exemptions from withholding VAT obligations. (3) Table evidence that supports the claims that removing the withholding VAT obligation on petroleum products will result in increased revenue from Pay As You Earn (PAYE), corporate tax and other revenues generated for county governments, stating alternative measures that could be considered to ease the financial burden on petroleum businesses. (4) State interventions put in place to ensure that the Finance Bill (2023) includes an amendment to exempt petroleum products from withholding VAT obligations, stating potential drawbacks, if any, and how this can be addressed. I thank you, Mr. Speaker, Sir."
}