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{
    "id": 245026,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/245026/?format=api",
    "text_counter": 156,
    "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. Chairman, Sir, I beg to move:- THAT, the proposals relating to:- (a) Excise Duties; (b) Value Added Tax; (c) Income Tax; and (d) Miscellaneous and Taxes that are contained in the Financial Statement for the year account, 2006/2007 be approved. Mr. Chairman, Sir, His Excellency the President has signified his consent to the Motion. As mentioned during the Budget Speech, I have proposed a number of taxation measures aimed at removing administrative and legal barriers in order to address inequality and create an enabling environment for private sector growth. The measures proposed under the East Africa Community Customs Union (EACCU) will, however, be implemented immediately after publication by the Chairman of the East Africa Community Council of Ministers (EACCM). Mr. Deputy Chairman, Sir, I have similarly proposed a number of excise measures as follows:- (i) The adjustment to the current specific excise tax on beer, wines, spirits and cigarettes to enhance compliance and address inequality, including within those categories. (ii) The introduction of excise stamps on spirits to improve compliance following the success we have had with similar a exercise on cigarettes. (iii) I have also proposed to zero-rate, for VAT purposes, wheat flour, computer equipment, parts and accessories, natural water, agricultural tractors, tractor tyres and transportation of unprocessed agricultural produce. Again, for VAT purposes, in order to make these commodities and services affordable to Kenyans and to remove the load from the farmers, as I have indicated, I expect the producers and suppliers of these commodities and services to pass on the benefit to the consumers. Mr. Chairman, Sir, I have also proposed a number of measures under the Income Tax Act which include the exemption from Income Tax of interests earned by investors who buy listed bonds as asset bulk securities for purposes of developing the infrastructure. This is aimed at encouraging participation by the private sector players in the rehabilitation and maintenance of infrastructure. The construction of public schools, hospitals, roads or any other kind of social infrastructure has also been made tax-deductible. This proposal is made in furtherance of the public-private sector partnerships so that we can get more private sector players to invest in public goods. Mr. Chairman, we are also proposing to increase the farm works allowance from 33.3 per cent to 50 per cent to promote and encourage---"
}