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{
    "id": 291916,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/291916/?format=api",
    "text_counter": 541,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "Mr. Temporary Deputy Speaker, Sir, let me now address the issue of why the Estimates of Revenue were marked as draft. As the hon. Members may be aware, firm and detailed Estimates of Revenue in the form which we are used to, which is the Printed Estimates of Revenue, will only be available after taking into account import duties and other taxation measures that are agreed upon jointly, under the East African Pre-budget consultations and also of the Sectoral Council on Finance and Economic Affairs Framework. I am pleased to report to this House that we held our East African Community (EAC) pre-budget consultations of the Ministers for Finance on 8th May, 2012 in Kampala, Uganda. During this meeting, we agreed that the five Ministers of East African partner states will read simultaneously their Budget statements or speeches in the afternoon of 14th June, 2012. We also agreed on a number of tax measures under the East African Customs Management Act, some of which have direct tax implications on the Estimates of international trade related to tax revenues, such as Value Added Tax (VAT) on import and excise duties. Mr. Temporary Deputy Speaker, Sir, it is only after consultations have been held with East African partner states on proposed taxation measures, that firm estimates of revenue can be availed. In this regard, I undertake to deliver Estimates of Revenue books on 14th June, 2012, when I will be reading to this House my Budget Statement for the year 2012/2013. Mr. Temporary Deputy Speaker, Sir, lastly, let me once again assure the House that the Ministry of Finance remains wholly committed in ensuring prudent management of our financial resources in accordance with the Constitution of Kenya. Thank you, Mr. Temporary Deputy Speaker, Sir."
}