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{
    "id": 556212,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/556212/?format=api",
    "text_counter": 260,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Speaker, the Tax and Miscellaneous Measures I have proposed are categorised under the following broad areas:- - Facilitating private sector growth to accelerate industrialisation and creation of jobs; - Promoting equity and fairness; - Deepening tax administration reforms to ease compliance and reduce the cost of doing business; and - Encouraging growth and stability of the financial sector. Hon. Speaker, I will start with facilitating private enterprise growth for job creation. Last year, I committed to introduce measures to encourage corporate entities to engage fresh graduates and other students leaving colleges in acquiring relevant experience and skills through internship and apprenticeship programmes. Therefore, in this Budget, I propose to introduce a tax rebate scheme for employers who shall engage and train at least 10 fresh graduates or students leaving technical colleges for a period of six months to 12 months. I urge employers and the business community to take up this opportunity and help us build a resource base of skilled manpower. In addition, all training levies which are currently being charged will be consolidated into a National Job Fund to benefit youth initiatives such as on-the-job training and attachments in order to enhance skills development. Hon. Speaker, the growth of the film industry has a huge potential to attract and nurture Kenyans’ talents and position this sector as a key driver of economic growth and employment creation. To enable this latent industry to attain a competitive advantage like the rest of the leading film production destinations and create jobs for our youth, I propose to exempt from Withholding Tax all payments made by foreign film producers to actors and crew members. In addition, VAT in respect of goods and services purchased for use in the film making will be exempt. Over and above this, I propose to set up a fund for rebating of expenses by producers in this industry. The modalities for implementing this measure will be worked out shortly. As we promote fishing and aquaculture, the demand for fishing nets is on the increase. Therefore, to encourage local manufacturers of fishing nets, I have provided for importation of nylon yarn and synthetic twine used in the manufacture of fishing nets under the duty remission scheme at a rate of zero per cent instead of 10 per cent."
}