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{
    "id": 1442024,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1442024/?format=api",
    "text_counter": 122,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "On Clause 9(12H), there is a proposed introduction of the minimum top-up tax. This Committee strongly supports this measure noting its global adoption in over 60 countries where many of this key multinational companies operate. Failing to implement this tax in Kenya would undermine the fair application of tax obligations, potentially allowing constituent companies located in Kenya to underpay their share of revenues. This amendment is aligned to the multilateral instruments on profit shifting and base erosion that this House approved a month ago. Again, this is another misinterpreted Clause. The minimum top-up tax simply means that when a multinational company operates in Kenya as a group company and has a lower tax rate in its country of origin than that of Kenya, the company will be required to pay this minimum top up tax. This again, is to align ourselves with best practice."
}