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{
    "id": 579074,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/579074/?format=api",
    "text_counter": 155,
    "type": "speech",
    "speaker_name": "Hon. Musimba",
    "speaker_title": "",
    "speaker": {
        "id": 1804,
        "legal_name": "Patrick Mweu Musimba",
        "slug": "patrick-mweu-musimba"
    },
    "content": "The other measures which I have seen in the Finance Bill are about the waiver of penalties and interest over financial years preceding the last one. If we are already acknowledging this - indeed the National Treasury is seeing that this has been prohibitive to business - then we should adopt a policy which simply says that there shall not be penalties and interest. The people who do not pay whatever has been adjudged as their tax due, will be deregistered according to the Companies Bill. We are about to pass a pretty robust Companies Act and Insolvency Bill, which look at this. This can now be combined to grow the level of confidence that our businesses are going through. You can determine that I have made a profit of Kshs200,000 a year, but it is not available readily in cash because creditors still have it. This is a phenomenon even within Government. So, we should be looking at how we can scrap these penalties?” Indeed, this will be an amendment which I will be pushing to scrap penalties and interest on taxes due."
}