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{
    "id": 825283,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/825283/?format=api",
    "text_counter": 487,
    "type": "speech",
    "speaker_name": "Roysambu, JP",
    "speaker_title": "Hon. Isaac Ndirangu",
    "speaker": {
        "id": 2701,
        "legal_name": "Isaac Waihenya Ndirangu",
        "slug": "isaac-waihenya-ndirangu"
    },
    "content": "Hon. Temporary Deputy Speaker, there is an aspect in this Bill of making sure we remove duty on items and specialised equipment for the development and generation of solar and wind energy. Contrary to what has been said in the media that we are upping the cost of kerosene, our Committee rejected that proposal of increasing the cost of kerosene. We assure Kenyans that there would not be an increase in the cost of kerosene. This morning I heard a Member of Parliament indicating that this Finance Bill contains provisions for us to levy VAT on fuel. That law was passed in the 11th Parliament and it is going to take effect on 1st September. It is not in this Finance Bill. We persuade Members of Parliament to know that, that provision is not in this Finance Bill. That is an Act of the last Parliament. It is only the CS who has power, within the regulations, to revoke it or suspend it even for a longer period. Much has been said about the Robin Hood tax. The Government is aiming to collect this money so that it can proceed to fund universal healthcare. But, when we heard Kenyans and other organisations appearing before us for public participation, we were persuaded to accept their propositions. Therefore, we proposed eight exemptions. Amongst them is transfer where 0.05 of this tax will not be levied on transfer of taxes to or tax referred from the Kenya Revenue Authority. It will not be applicable to transfers from the KRA collection accounts at the Central Bank of Kenya. It will not be applicable to transfers by or to the national Government, county governments or the CBK neither will it be applicable to transfers relating to the purchase and sale of shares and securities at the Nairobi Stock Exchange (NSE). They will not be applicable to transfers to and from the registered Retirement Benefits Scheme. It will not appear in inter-bank transfers or banks and non-bank financial institutions or between non-bank financial institutions. It will not be applicable to transfers between accounts belonging to the same person within the same bank or financial institution. To make it more democratic, we have given the power to the CS in charge of the National Treasury to include any other category that he deems fit. So, we have tried as much as possible to ensure that the Robin Hood Tax will not be painful to the ordinary person or organisations that deal with ordinary persons or to their transactions. With those few remarks, I second this Finance Bill and invite Members to move with us. Thank you, Hon. Temporary Deputy Speaker."
}