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{
    "id": 685220,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685220/?format=api",
    "text_counter": 70,
    "type": "speech",
    "speaker_name": "Hon. Mule",
    "speaker_title": "",
    "speaker": {
        "id": 2321,
        "legal_name": "Stephen Mutinda Mule",
        "slug": "stephen-mutinda-mule"
    },
    "content": "Thank you, Hon. Deputy Speaker. I rise to support the Bill. The Bill proposes very clear measures that will lead to the recovery of our economy. If you look at the tourism industry, it has been highly affected because of some of the taxation imposed on it. I believe that with the proposal of exempting VAT at the gate, it will encourage more tourists to come to this country. When we were growing up, we knew very well that tourism was No.2 after agriculture in foreign exchange earnings. I believe it is high time we reclaimed our glory of encouraging tourists to come to Kenya. Secondly, the Bill proposes the exemption of VAT on animal feeds. Where I come from, those old days, our grandfathers and grandmothers used to have many cattle. Due to high economic cost of animal feeds, I can assure you that very few farmers in my area, especially in Matungulu, are able to afford those animal feeds due to the taxation that is imposed on them. This will go very well to encourage the farmers in my area to make sure that they increase their livestock due to affordable animal feeds. The Bill also proposes something which we have been looking for, for a long time; foreign investors to have some tax holidays. It is important to note that quite a number of foreigners who intended to invest in Kenya have run away to our neighbours like Tanzania, Uganda, Rwanda, Burundi and some to Egypt, because of some unfavourable tax regime in the country. This will be an indication that in Kenya, we are getting into another roadmap of being an investment hub for those people who want to invest here. It is true that the Bill addresses the inequality such as import of motor vehicles in this country. This will encourage Kenyans to be in a position to import cars which they are able to maintain and make sure that we do not have a dumping ground for such vehicles. The Bill also proposes a safety area for the local banks. As the Chairman of the Departmental Committee on Finance, Planning and Trade has alluded, we have seen quite a number of banks that have gone down due to issues of unregulated banking sector. The Bill is going to make sure that there is expansion of the framework for creditors, information sharing for ease of doing business and facilitation for the reduction of cost in credit. You know very well there is a Bill before the President concerning interest rates. This Bill will strengthen the Bill once assented to by the President to make sure that we have a reduced cost of doing business in this country. That will encourage more people and more Kenyans to get into business in this country. Coming from the Departmental Committee on Health and being in the medical profession, I am quite pleased to hear that we are going to have exemption to the cancer equipment through this Bill. The duties of cancer equipment will be exempted. We are aware that Kenya has been losing a lot of revenue due to medical tourism in India. I believe that if this is actualized, all the revenue Kenyans are spending to send their patients and their beloved ones to India for treatment will be used here. I want to thank the House. This morning, we passed the Biomedical Engineers Bill on Second Reading. With that Bill plus this one, we will be able to attain our goal for quality healthcare on cancer equipment in this country. I believe we are going to reduce the queues we have seen in our hospitals where patients wait for more than six months to get cancer treatment. This will encourage doctors and private practitioners to invest in the cancer equipment. I believe that will also translate to the common mwananchi because we will have exempted the equipment 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."
}