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{
    "id": 1512366,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1512366/?format=api",
    "text_counter": 737,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "The amendment is seeking to set a threshold for the non-resident person liable to pay the significant economic presence tax of Kenya. Here, we are setting the definition of what that economic significance tax is to an institution, business, or company that has a turnover of Ksh5 million per year. The reason we picked on Ksh5 million is that it is the Value Added Tax (VAT) threshold. We tried to be consistent here like what we did in the Tax Procedures (Amendment) Bill in the morning, where we are now exempting MSMEs that have a threshold of below Ksh5 million, which is a VAT threshold. It is the same thing here for significant economic presence."
}