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{
    "id": 1591207,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1591207/?format=api",
    "text_counter": 193,
    "type": "speech",
    "speaker_name": "Hon. John Mbadi",
    "speaker_title": "The Cabinet Secretary for the National Treasury and Economic Planning",
    "speaker": null,
    "content": " Hon. Speaker, no life should be lost and no property should be destroyed again. The message from Kenyans was clear. Since I took office at the Ministry of the National Treasury and Economic Planning, I assured Kenyans that we shall strive to reduce the tax burden. In this respect, the Finance Bill, 2025 has neither proposed new taxes nor raised any tax rates. Instead, we have chosen to enhance tax revenue collection through administrative reforms by simplifying and streamlining tax laws to make them clearer and easier to implement, thereby improving taxpayer compliance. The process also involves rationalisation of tax expenditure to enhance equity and fairness. The revenue foregone through tax incentives or tax expenditures has increased significantly from Ksh393.1 billion in 2022, which is equivalent to 2.9 per cent of the Gross Domestic Product (GDP), to Ksh510.6 billion in 2023, which is equivalent to 3.4 per cent of GDP. To reverse this trend, the Finance Bill, 2025 proposes reforms to rationalise tax expenditures so as to promote equity, fairness, efficiency and reduce distortions within the tax system. The proposed reforms are in line with the National Tax Policy and the Medium-Term Revenue Strategy. Hon. Speaker, from the proposed reforms, we expect to raise Ksh30 billion more as additional revenue. Customs measures agreed upon by East African Community (EAC) Ministers during the pre-budget meeting are intended to protect our industries and ensure they access raw materials and inputs at affordable prices. The meeting allowed Kenya to import tea packaging materials at a lower duty rate of 10 per cent. In addition, Kenya was granted an extension of duty remission to import wheat at the rate of 10 per cent. These measures will support our wheat and tea farmers. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}