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{
    "id": 1586221,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1586221/?format=api",
    "text_counter": 628,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " I beg to move that New Clauses 42A, 42B and 42C be now read a Second Time. New Clause 42A seeks to impose a 5 per cent Excise Duty on amounts deposited in a customer's wallet. It seeks to impose excise on fees charged on transactions by a Virtual Asset Service Provider (VASP). There are two things. Say you have money on your mobile wallet, whether M-Pesa or Airtel Money, then you transfer that money to the wallet of a betting company. The current taxation regime is such that charging of Excise Duty happens when you place a bet from the money already placed in the wallet of the betting institution. We are now changing that to make Excise Duty payable when you transfer money from your mobile wallet to the wallet of a betting company. This has this impact. So many institutions operate virtually. For example, outside the country. Therefore, we are not able to get this Excise Duty from them. Now it means that Excise Duty is paid every time a Kenyan transfers money from their mobile wallet to a betting company’s wallet. Secondly, it is a consequential amendment to what we provided earlier on Excise Duty now being paid for virtual assets on transaction fee and not the transaction amount. New Clause 42B defines the time an amount is deposited in a customer's wallet. As I have explained. The New Clause 42C is also a consequential amendment as I had spoken earlier. It is about excisable services offered by the Defence Forces Welfare Services (DEFWES). I beg to move."
}