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{
    "id": 987232,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/987232/?format=api",
    "text_counter": 486,
    "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": " Thank you, Hon. Chairman. Just two quick things: It is true that retirement benefits are taxed but they should be taxed at the point of retirement. If you bring it to taxation at this point, you will be double taxing the same individual. Secondly, on the issue of bonds, we must make them as cheap as possible. The moment you start taxing bonds, for people to accept to buy them, the Government has to increase or give higher rates of return, which in effect will impact on the taxpayers you want to protect. No one will accept to shed off part of their earnings without compensation. The more you tax the returns on bonds, the more costly the bonds will be. I agree with the Committee that we cushion these bonds from taxation to protect our revenue from going into settling public debts. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}