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{
    "id": 846697,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846697/?format=api",
    "text_counter": 224,
    "type": "speech",
    "speaker_name": "Suba South, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "I also agree to the proposal to replace the turnover tax which is currently at 3 per cent in gross receipts with presumptive tax at 15 per cent of the amount payable under the business permit or trade license which are issued. I remember in 2007, the turnover tax was introduced targeting the informal sector for those whose annual turnover was less than Kshs5 million. However to administer it is a challenge. One of the principles of taxation is ease of collection and ease of administration. If you are going to spend more money to collect tax than the tax you are collecting, then that is not prudent application of principles of taxation. I also want to support the initiative which introduces allowable deduction of 30 per cent of electricity bill to the manufacturers from their corporate profit so as to give incentive to the sector. Now, besides expending from profit and loss of electricity bill, in addition, 30 per cent of the amount they incur in paying electricity to do business will be excluded from taxation. It will be allowable for tax purposes."
}