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{
    "id": 1511372,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1511372/?format=api",
    "text_counter": 448,
    "type": "speech",
    "speaker_name": "Ainamoi, UDA",
    "speaker_title": "Hon. Benjamin Lang’at",
    "speaker": null,
    "content": "Two, the Bill provides for the taxation of interest on infrastructure bonds. I want to confirm that when we listened to the public organised groups, they said that was not the correct direction. They said all the people who bring money from outside the country will find Kenya as a bad investment destination because the rates would have reduced. We shall be proposing that we maintain the status quo by removing that provision that requires taxation of the interest on income. We have so many companies in our Republic that are undertaking their business online. They do not have the physical presence in the country. We have companies like Netflix and Uber that do not have serious physical presence but they are doing business online and they make a lot of money. That is why we said that we need to introduce the Significance Presence Tax where everybody who makes money in our Republic must contribute to the infrastructure of the Republic of Kenya. On excise duty, it is levied to protect Kenyans from harmful effects of certain items, including alcohol and many other harmful things. One case has been raised here about excise duty on imported ceramics. We had a presentation from stakeholders. When we worked out the mathematics as we were trying to dry run the formulae to see whether it will make sense, we realised that whoever proposed that amendment did not dry run the formulae properly to see its impact that is extremely huge. It is not sensible so, we shall be proposing an amendment at a relevant stage. Kenya is not a ceramic manufacturing country. We are not at a level where we can discourage import. We still need to import because we do not produce enough ceramic in this Republic. We will, therefore l, propose an amendment because the effect will be massive in the construction industry. There was also a proposal to increase excise duty on data and money transfer service from 15 per cent to 20 per cent. We also had presentations from members of the public who said that, as a country, we should not make a tax proposal this year that we will have to amend next year. We need to have a predictable tax environment where if we make a decision today and say, for example, that today we will tax 15 per cent, we will ensure that we protect that decision for the next five or six years as per the national tax policy. If somebody decides to invest based on that specific tax provision, we will not wake up one year later after they have invested Ksh5 billion and start to change that tax regime to the detriment of that investor. As per our national tax policy, the tax regime must be predictable within a reasonable time. I do not want to belabour what has been said. Let us support this Bill and bring amendments at the Third Reading. I want to join my Chairman in thanking our Members because they spent five days moving tirelessly across the counties. We have worked up to midnight for three days. I also want to thank the secretariat led by Mr. Benjamin Magut for doing..."
}