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{
    "id": 293661,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/293661/?format=api",
    "text_counter": 144,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Speaker, Sir, let me now turn to taxation and other measures. The rest of my Statement outlines various tax measures and miscellaneous amendments that I intend to introduce through the Finance Bill 2012 to be tabled in this House. I, therefore, request that the remainder of my Statement be regarded as Notice of Motion, to be moved before the Committee of Ways and Means. Mr. Speaker, Sir, over the recent past, the Government has maintained levels of tax rates, especially under the Income Tax and Value Added Tax (VAT), while import duties have declined over the last eight years. This notwithstanding, expenditures have risen over the same period. We have been able to sustain this level of expenditure through enhanced administrative measures and tax reforms. We, nevertheless, recognize that more needs to be done to achieve optimality in our tax system. Mr. Speaker, Sir, the tax measures and other miscellaneous amendments that I intend to propose hereunder are categorized into five broad priority areas, which complement the broad policies that I have already outlined in the earlier part of my Statement. These are:- (i) Facilitating private sector growth for employment; (ii) Investing in people and supporting rural development; (iii) Promoting equity and fairness in the tax systems; (iv) Further reforming the tax system for efficiency and effectiveness; and, (v) Strengthening financial sector stability for growth and employment. Mr. Speaker, Sir, as I have earlier stated, the private sector plays an important role in generating growth and creating employment for our economy. For this reason, I have proposed additional measures under the taxation to further support its expansion. Our manufacturing subsector has been going through tough times due to various challenges, especially unfair competition from cheap imports from the Far East. In this regard, and in order to cushion our iron and steel manufacturers from this undesirable practice, I propose to increase import duty on galvanized wire from zero per cent to ten per cent. This will protect our local industries. Mr. Speaker, Sir, as all hon. Members may be aware, the entire world is targeting the year 2015 as the deadline to migrate from analog to digital television signals. To"
}