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{
    "id": 955099,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/955099/?format=api",
    "text_counter": 283,
    "type": "speech",
    "speaker_name": "Kitui Rural, CCU",
    "speaker_title": "Hon. David Mboni",
    "speaker": {
        "id": 13388,
        "legal_name": "David Mwalika Mboni",
        "slug": "david-mwalika-mboni-2"
    },
    "content": "Some of the proposed amendments may not promote some of the sectors and their growth, for example, increasing CGT from 5 per cent to 12.5 per cent. I want us to go back to three years ago. The CGT was implemented in the Nairobi Stock Exchange (NSE) and it did not work. It discouraged investments. The NSE went to court and the tax was suspended. We are bringing it back. We are talking about buying and selling of land here. If we increase CGT, we will discourage investments in housing. Therefore, we will defeat our agenda on housing. We need to re-look at it. If we need money from capital gains, then we can re-visit taxing NSE."
}