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{
    "id": 954783,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/954783/?format=api",
    "text_counter": 475,
    "type": "speech",
    "speaker_name": "Molo, JP",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": {
        "id": 13435,
        "legal_name": "Francis Kuria Kimani",
        "slug": "francis-kuria-kimani"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker, for giving me this chance to contribute to the Finance Bill. I will start by asking: Can a people tax themselves into prosperity? Can a man stand in a bucket and lift himself up by the handle? These words were used by Winston Churchill. Every year around this time, we come to Parliament, we debate the Finance Bill and approve taxation measures. We change our tax regime on some products and change tax exemption to zero-rate. We increase taxes like we are proposing to increase the Capital Gains Tax from 5 per cent to 12.5 per cent. The one place that the youth of this country have been making money from has been at the digital market. Now, we are proposing to tax that too. What do we achieve when we do this? Countries that continue to tax their citizens have been proven to lead to more poverty and less economic growth. Can a company come and register in Kenya and be sure that the taxes it will pay will be the same in five years? We need to have consistent tax laws that can make a company have a five-year, ten- year or 20-year strategic plan knowing that the cost of doing business will not change because Members of Parliament came and debated the Finance Bill and passed a new tax that was not paid the previous year."
}