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{
    "id": 734939,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/734939/?format=api",
    "text_counter": 149,
    "type": "speech",
    "speaker_name": "Hon. Gaichuhie",
    "speaker_title": "",
    "speaker": {
        "id": 17,
        "legal_name": "Nelson Ributhi Gaichuhie",
        "slug": "nelson-gaichuhie"
    },
    "content": "Hon. Temporary Deputy Chairlady, I beg to move: THAT, the Bill be amended in the Schedule in the items relating to the Income Tax Act (Cap 470) by inserting the following new row in its proper alphabetical sequence— Second Insert the following new paragraph immediately after section 24B ― Schedule Capital expenditure on construction of liquefied petroleum gas storage (Part V) facilities. 24C. (1) Where capital expenditure is incurred on the construction of liquefied petroleum gas storage facilities with a minimum capital investment of four billion shillings and a minimum storage capacity of a total value of fifteen thousand metric tonnes, there shall be deducted in computing the gains or profits of the person incurring that expenditure for the year of income in which the liquefied petroleum gas storage facilities were first used for storage of liquefied petroleum gas, a deduction referred to as an investment deduction. (2) The amount of the investment deduction under paragraph (1) shall be equal to one hundred and fifty per centum of the capital expenditure. I want to go straight to the justification. In 2013, LPG was zero-rated, but it is for sure that LPG is today still expensive. It is the reason why everybody is using charcoal and firewood. What I seek to do is to exempt those people who are able to build storage facilities for LPG from tax so that they can invest in LPG storage facilities. But we are putting a cap. We do not want anybody building a small LPG storage facility. You should invest about Kshs4 billion. Therefore, we are not just taking care of anybody, but those people who are able to do facilities 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."
}