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{
    "id": 482497,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/482497/?format=api",
    "text_counter": 297,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Maasai Mara, go to Mombasa and Kericho to see our tea plantations which many people have not really taken seriously. Hon. Temporary Deputy Speaker, I also want to say that many of the related multinational organisations do a lot of contractual arrangements, the effect of which is really to avoid paying taxes which actually should be paid. I want to say that, at least, this Bill is addressing that problem so that we have arms-length transactions between related parties and companies, so that the Government does not lose income from taxation. I do not intend to talk much as many hon. Members have done a lot of justice to this Bill. I would also want to say that as we speak right now in Kenya, we are witnessing a lot of blessing in succession. We are witnessing a lot of discoveries of minerals, oil and gas. These blessings have come within this time and in succession, especially in Turkana area. I can see my friends here from that county are happy. Even for the first time, in the process of looking for oil, they discovered water and gas which we are told are enough to be consumed for 70 years in Turkana area. These people have been suffering. As these new discoveries come, our financial laws must be made ready to accommodate these new discoveries. Therefore, if you look at this Bill today, it actually captures the natural resource and incomes. Formerly, there were tax systems. That is the new thing which is coming up and we must benefit from these discoveries. As the investors make money, Kenyans must also get their bit through the taxes. Somebody was asking what benefits we have given to those investors. I want to tell hon. Members that for somebody who is exploring; this Bill provides that for the first machineries that are used for exploration, they be allowed 100 per cent tax exemption for the purposes of reducing their tax payment. That is a serious benefit which is actually encouraging the investors to invest in this sector. Hon. Temporary Deputy Speaker, we did the VAT Bill. We did the Tax Appeals Tribunal Bill and soon we will be doing what we call Tax Procedure Bill. I was saying that shows that the Government and the National Treasury is speeding up and we are reducing the number of amendments that come through the Finance Bill, going forward. Hon. Temporary Deputy Speaker, our revenues in this country must be increased. We must increase the revenue that is supposed to fund our expenditure. I can see a lot of people calling for a referendum to increase monies to the counties. For anybody who went to school, he should actually know that we do not need to spend Kshs8 billion in this country now to 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."
}