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{
    "id": 556234,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/556234/?format=api",
    "text_counter": 282,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "I propose to amend the Income Tax Act to harmonise the tax treatment in this industry at the Withholding Tax rate of 12.5 per cent and 5.6 per cent for training and contractual services, respectively. We also reinstated the Capital Gains Tax last year so as to allow property and share owners to make their fair contribution to the Exchequer. However, the implementation of the law has faced some challenges in some sectors of the economy. In order to address those challenges and ensure enforceability and compliance, I propose to remove the 5 per cent tax on capital gains arising from sale of shares and introduce a 0.3 per cent Withholding Tax on the transaction value of the shares. 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."
}