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{
    "id": 685233,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685233/?format=api",
    "text_counter": 83,
    "type": "speech",
    "speaker_name": "Hon. Limo",
    "speaker_title": "",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "The issue of Excise Duty on motor vehicles, I still feel it is still punitive. You cannot say 20 per cent because it is not going to help somebody who is struggling, especially our youth. They operate on boda boda, and then buy a Probox. Currently, a Probox, as somebody alluded to, is not Kshs600,000, but Kshs1,000,000. If you charge 20 per cent Excise Duty on Kshs1,000,000, it becomes Kshs1.2 million. That is a lot. As we go to variable taxing, we should also bring it down. It should be below 10 per cent. That will be helpful. We can even build a graduated scale where, if the value of the motor vehicle is below Kshs1,000,000, the tax should be 5 per cent and if it is Kshs3 million, you take it to 30 per cent because somebody who can afford Kshs3 million is not the same as somebody who is struggling to get Kshs1 million. Therefore, the variable that they have come up with of 20 per cent is okay, but we should make it a graduated system to address inequities in this country. With regard to banks, many people in this country are no longer engaging in business with integrity. The issue of raising the capital base is okay so that we can separate the people who are serious in investing in and those who are coming here to con people. I urge this House that when the proposal to raise the capital base to Kshs5 billion comes, let us support it because we must protect our people. I wish you saw the stress customers went through when several banks including Chase Bank went under. It was very bad and we should protect our people. Our tax system is good, but we should address the issue of collection. We should put in place serious mechanisms to collect taxes. We should also look for a way of bringing the two levels of Government together. 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."
}