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{
    "id": 1254224,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254224/?format=api",
    "text_counter": 175,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "Hon. Speaker, to support start-up companies, I propose to the National Assembly to amend the Income Tax Act to defer the taxation of gains on shares offered to employees in lieu of their salaries in a start-up company for five years or till the date employment ceases or till the date of sale of the shares, whichever comes earlier. Hon. Speaker, upon retirement, most senior citizens have no access to medical cover and spend their little savings on healthcare services. To encourage employees to save for their post-retirement medical needs, I propose to the National Assembly to provide tax relief of 15 per cent of the contributions to a Post-Retirement Medical Fund or Ksh5,000 per month, whichever is lower."
}