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{
    "id": 685344,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685344/?format=api",
    "text_counter": 194,
    "type": "speech",
    "speaker_name": "Hon. H.K. Njuguna",
    "speaker_title": "",
    "speaker": {
        "id": 1508,
        "legal_name": "Humphrey Kimani Njuguna",
        "slug": "humphrey-kimani-njuguna"
    },
    "content": "In 1970s and 1980s, people working in the Civil Service and even in the Teachers Service Commission (TSC) were paid some allowances to encourage them put up houses. That was, however, abolished in the 1990s. Because we are still short of housing in rural and urban areas, we should revisit those policies and see how we can encourage this country to develop adequate housing for her people. I am against the taxation. Clause 14 of the Bill states that if you are earning Kshs134,164, you pay taxes to the tune of 10 per cent. If you are earning Kshs126, 403, you pay 15 per cent. Are we encouraging the housing sector or discouraging investment in that sector? I am of the opinion that this tax initiative is discouraging an important sector in terms of growth. It needs to be revisited because it is not fair to those people who would like to invest in this sector. More so, this Bill does not address the fact that people investing in housing use borrowed funds. If the focus is the taxation on the revenue generated, then this is not a fair tax. I also note by extension, that those people who develop 1,000 units will benefit in terms of 30 per cent Corporate Tax to 20 per cent. This is still not good enough because these people use borrowed funds. We should interrogate and find out where they get their funds. By taxing them 20 per cent, are we encouraging or discouraging them? Tax measures should be in a way that they do not discourage investment but rather support it. I am not against taxes but they should be seen to deliver social and economic justice to the Kenyan people."
}