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{
    "id": 482149,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/482149/?format=api",
    "text_counter": 287,
    "type": "speech",
    "speaker_name": "Hon. Tonui",
    "speaker_title": "",
    "speaker": {
        "id": 1242,
        "legal_name": "Ronald Kiprotich Tonui",
        "slug": "ronald-kiprotich-tonui"
    },
    "content": "I want to commend Kenya Revenue Authority (KRA) for their efficiency in collecting taxes. KRA has been enabling us to collect taxes to run the various sectors in this country. We are able to fund, both the national Government and the county governments because of the efficiency of KRA. I understand that from the latest results from the taxation measures is that they are meeting their targets and, therefore, we must commend them. Through the money we are getting, we are able to provide a better road network in this country. We are able to provide water and the basic commodities in this country. We are able to provide electrification and even deal with infrastructure in our schools. That is because we need to improve the infrastructure in our schools. So, that is why we need this taxation. I only wish that we think outside the box on the issue of the Eurobond. I am happy that the Government initiated this; that we need it so that we can make the cost of investment go lower by having the interest rates lower. The Eurobond loan to our banks will lower rates and enable most of our people to engage in business. Some of the measures which we have in this Finance Bill include dealing with capital investments unlike the natural resources that we have. I know some people invest in things like land. You buy a piece of land at a cost of Kshs1 million and let it lie idle for two or three years and sell it at a cost of Kshs5 million. That difference between what you spend to buy that piece of land and what you are selling is under the Capital Gains Tax. That is what we need to be taxing so that people can be using the resources effectively and not to invest in such resources for speculative purposes. That is important."
}