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"id": 1440701,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1440701/?format=api",
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"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "This means and demonstrates that giving tax incentives to manufacturers leads to the growth of local manufacturing and continues with the motto of ‘Buy Kenya, Build Kenya.’ This Bill proposes to exempt tax on increased pension payments for salaried people from Ksh20,000 to Ksh30,000. Rejection of this Bill means that these pension contributions that will take care of us when we get old will not be tax-exempt. Therefore, Kenyans will be worse off if this Bill and its proposed amendments are rejected. On Pay As You Earn (PAYE), the report of this Committee proposes that all statutory deductions, including the Housing Levy and SHIF be tax allowable. Rejection of this Bill, as amended by this Committee, means that our salaried Kenyans will have less disposable income to take home. Hon. Speaker, to facilitate business, if your sales are above Ksh5 million, you are subject to VAT registration. This Bill and the Committee's report recommend increasing this from Ksh5 million to Ksh8 million. Therefore, rejecting this Bill as amended by the Committee will make it more difficult for our businesses. Hon. Speaker, you heard the complaints about eTIMS last year for our avocado farmers and young traders. This Bill proposed amendments on exempting subsistence farmers and Small and Medium Enterprises (SMEs) with a turnover of less than Ksh1 million."
}