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{
    "id": 738561,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/738561/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Chairman, I beg to move: THAT, Clause 4 of the Bill be amended in paragraph (a) by inserting the following new sub-paragraph immediately after subparagraph (ii) – ―(iii) by deleting the words ―at the beginning of every financial year‖ in paragraph 2(1) and substituting therefor the words ―every two years‖. This relates to inflation adjustment to the rates of excise duty. In the main Act, we had proposed that there shall be annual adjustment for inflation on the excise rates which have been proposed. After consultation between the private sector and the Committee, it was agreed that in order to allow the private sector and the companies to properly plan their operations, if rates are adjusted annually, it will be difficult to plan because you need to adjust every year. The private sector suggested that the adjustment be done after three years, but we came to a compromise position of every two years so that the companies can plan their budgets well."
}