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{
    "id": 235155,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/235155/?format=api",
    "text_counter": 298,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Mr. Temporary Deputy Chairman, Sir, I beg to move:- THAT, Clause 31 of the Bill be amended in subclause (b)–- (a) by inserting the following new paragraph immediately after paragraph (ii) deleting subparagraph (ii) and substituting therefor the following new subparagraph–- (iiA) In item 5 by inserting a new subparagraph (i) as follows – (i) In respect of lease rentals paid under rule 3 of the Income Tax (Leasing) Rules, 2002, three per cent of the gross amount payable to the lessor. (b) by deleting the proposed item 9 appearing in subparagraph (v) and renumbering item 10 as item 9. (ii) in item 5– (A) by deleting the expression \"consultancy or agency fee\" appearing in subparagraph (f) (i) and substituting therefor the expression “management or professional fee, other than contractual fee; (B) by inserting a new subparagraph immediately after subparagraph (h) as follows– (i) in respect of lease rentals paid under rule 3 of the Income Tax (Leasing) Rules, 2002, three per cent of the gross amount payable to the lessor. (b) in subparagraph (v), by deleting the proposed item 9. Mr. Temporary Deputy Chairman, Sir, this is also a straightforward issue. When I proposed the Withholding Tax, we had prescribed 15 per cent tax. However, when we realised that the 15 per cent tax on turnover was high, we reduced it to 3 per cent. Mr. Temporary Deputy Chairman, Sir, therefore, the effect is to reduce the Withholding Tax from 15 per cent to 3 per cent as per the legal notice that we issued on 11th July, 2006."
}