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{
    "id": 482395,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/482395/?format=api",
    "text_counter": 195,
    "type": "speech",
    "speaker_name": "Hon. Limo",
    "speaker_title": "",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "Therefore, we should ensure that the regulations which we develop are in tandem with the regulations which are developed both between the national Government and the county governments. If we do not take care, we will find one day that the investors in this country will be moving away to neighbouring countries. That was seen in the VAT Act where, when we came up with the Act, some of the investors, including travel agents, started moving away to neighbouring countries like Tanzania and Uganda. Those are people who were paying tax. Therefore, this Bill has come at the right time to ensure that we have a wide tax base where no regulations favour a few individuals. For a very long time, this country has depended on direct tax which has discouraged investors and, at the same time, people who are being taxed through the Income Tax. Given that the country has recently discovered very important sources of income - mining and petroleum - it is the right time we amended laws governing taxation around mining and petroleum. Again, the law on National Social Security Fund (NSSF) which we passed recently has inconsistencies with the Retirement Benefits Act (RBA). This Bill has done very well in trying to remove the inconsistencies and The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}