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{
    "id": 736491,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736491/?format=api",
    "text_counter": 124,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "The Bill further proposes amendments to other Acts to allow more Kenyans to benefit from the Islamic financial product, whether they are Muslims or non- Muslims. Part of this Bill also highlights the fact that Kenya is re-positioning itself as a regional hub for motor vehicle assembly. That is why we have a number of major international companies such as Peugeot, Volvo and General Motors putting their manufacturing sector in Kenya. It is, therefore, keen to attract foreign direct investment in this sector. In order to realise this, this Bill seeks to reduce the Corporate Tax rate to 15 per cent for more new motor vehicle assemblies to be done in our country. This has taken place in the last five years. When we have those motor assembly plants, we will create more jobs for our youths and transfer of technology will take place. The Value Added Tax 2013 imposed VAT on all imported ingredients for the manufacture of pesticides, but maintained zero rate status for imported manufactured products. This made the local products expensive hence very uncompetitive. In order to promote and boost the local agricultural production and enhance job creation, this Bill seeks to exempt ingredients imported for manufacture of pesticides."
}