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{
    "id": 936849,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/936849/?format=api",
    "text_counter": 177,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) Fatuma Gedi",
    "speaker_title": "",
    "speaker": {
        "id": 1139,
        "legal_name": "Fatuma Gedi Ali",
        "slug": "fatuma-gedi-ali"
    },
    "content": "Hon. Temporary Deputy Speaker, pursuant to powers conferred by Section 67 of the Value Added Tax Act, 2013, the Cabinet Secretary for the National Treasury and Planning published in the Gazette the Value Added Tax (Amendment) Regulations, 2019 on 13th June 2019 vide Legal Notice No.86 of 2019. The Regulations were received by the Clerk of the National Assembly on 21st of June 2019 and tabled before the House on 21st June 2019 and subsequently committed to the Committee on Delegated Legislation for review and scrutiny pursuant to the Statutory Instruments Act, 2013 and Standing Order 210. The Regulations seek to amend Regulation 8(2) of VAT Regulations, 2017 which contains the formula used to calculate the Value Added Tax refund. The current formula has been found to disadvantage exporters of taxable goods since they are not able to fully recover their input VAT. The difference between the current and the revised formula is that the current one calculates the amount allowed as refund of input Value Added Tax whereas the revised one calculates the share of input Value Added Tax to be allowed. The implementation of the proposed revised formula will guarantee the exporters of VAT taxable goods full recovery of their share of input tax relating to zero-rated supplies. The proposed amendment, therefore, addresses challenges faced by suppliers of both zero-rated and general rated supplies in ensuring that they are able to recover the"
}