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{
    "id": 397324,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/397324/?format=api",
    "text_counter": 277,
    "type": "speech",
    "speaker_name": "Hon. Ng’ongo",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "This is not the first time we have spoken about Capital Gains Tax in this country. Remember before 1985, we had it but because Members of this House, a good number of them were in real estate business, they decided to keep the benefits. What my amendment sought to do was--- If today someone opens a shop for selling clothes, he will pay tax. But if one buys a house for Kshs.20 million and sells it for Kshs.30 million, the profit of Kshs.10 million is not taxable. This is completely unacceptable, it defeats the very essence of equity and as a student of tax, as one who has done taxation, and I know that one of the principles is equity; you need to tax more the rich and less the poor. My Committee has rejected my amendment to cushion the poor; the very low, those who are earning below Kshs.38,000 per month."
}