{"id":804883,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/804883/?format=json","text_counter":161,"type":"speech","speaker_name":"Mr. Henry Rotich","speaker_title":"The Cabinet Secretary for the National Treasury","speaker":{"id":13142,"legal_name":"Henry Rotich","slug":"henry-rotich"},"content":"In order to reduce the incidence of adulteration of fuels, I propose to harmonise the rate of excise duty applicable on illuminating kerosene to Kshs10,305 per 1000 litres. Let me now turn to Income Tax. In the recent years, we have implemented tax reforms aimed at modernising tax legislation and simplification of tax administration. In this pursuit, most of the tax statutes have been reviewed, with the exception of the Income Tax Act. We are currently in the process of undertaking a comprehensive review of the Income Tax Act, and we now have a new draft Bill that has undergone public participation in accordance with the constitutional requirement. In the Income Tax Bill, 2018, I had proposed to introduce a higher tax band of 35 per cent on incomes above Kshs750,000 per month and an increase of the Capital Gains Tax from 5 per cent to 20 per cent."}