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{
    "id": 218023,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/218023/?format=api",
    "text_counter": 73,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": "June 14, 2007 PARLIAMENTARY DEBATES 1839 Mr. Speaker, Sir, on measures to encourage regional integration, as a demonstration of our commitment to the EAC regional integration in accordance with the East African Community Protocol, I propose to do the following: (i) Treat all citizens of the EAC partner states who invest within the Nairobi Stock Exchange and earn a dividend income as residents and they will only pay withholding tax at the rate of 5 per cent just like Kenyans. (ii) I am also proposing to amend the Capital Markets Act to increase the percentage of Initial Public Offers (IPOs) that are reserved for Kenyans from 25 per cent to 40 per cent and extend this to the other East African partner state members who will invest with us as local investors."
}