Aden Bare Duale

All parliamentary appearances

Entries 8021 to 8030 of 17810.

• 9 May 2017 in National Assembly: That gap is growing wider. In order to reduce that disparity between low and high income earners and move towards income equality, this Bill proposes to increase the Pay-as-you-Earn (PAYE), pension tax bands and the personal relief by 10 per cent. Following the Government crackdown on illicit spirits in the year 2015, the number of manufacturers in the industry has greatly reduced, leaving a supply gap that was quickly filled by cheap imports and consequently the prices of spirits have come down making these products available to abuse by young Kenyans. In order to protect the young generation of this ... view
• 9 May 2017 in National Assembly: The Excise Duty 2015 introduced a specific rate on cigarettes of Kshs2500 per mil with the aim of achieving simplicity in the tax administration and revenue collection in as far as that sector is concerned. However, this single-tier system was unfair to companies that deal with the low value cigarettes hence constantly hurting our revenue collection. In order to bring fairness in the cigarette manufacturing sector and also boost the Exchequer revenue, this Bill proposes to introduce a two-tier tax system with the Excise Tax on cigarettes with filter at the rate of Kshs2,500 per mil and cigarettes without filter ... view
• 9 May 2017 in National Assembly: Currently, the capital markets do not exhaustively cover all the Islamic capital products and services. This denies our economy a huge capital that could be tapped from the Islamic market, for instance the Sukuk Bond. In this regard, to create that integration of all those markets and to bring on board the Islamic markets where both Government and the private sector can borrow for infrastructure development, this Bill, through the Cabinet Secretary, National Treasury, proposes amendments to various tax legislations in order to entrench Islamic capital products in the Kenyan Capital Market. We find the Islamic products in nearly all ... view
• 9 May 2017 in National Assembly: the sake of the private sector and the Government, to access more funding from different quarters in order for us to float the Sukuk Bond. This Bill proposes to amend various tax legislations for a specific reason in order to entrench Islamic capital products in the Kenyan Capital Markets. view
• 9 May 2017 in National Assembly: The Bill further proposes amendments to other Acts to allow more Kenyans to benefit from the Islamic financial product, whether they are Muslims or non- Muslims. Part of this Bill also highlights the fact that Kenya is re-positioning itself as a regional hub for motor vehicle assembly. That is why we have a number of major international companies such as Peugeot, Volvo and General Motors putting their manufacturing sector in Kenya. It is, therefore, keen to attract foreign direct investment in this sector. In order to realise this, this Bill seeks to reduce the Corporate Tax rate to 15 per ... view
• 9 May 2017 in National Assembly: Finally - and I am sure Members have looked at this Bill - the Government is keen on developing sports, culture and arts in the country. Currently, the sports sector derives its funding from the national sports funds whose monies include proceeds from the sports lotteries, investments and any payments as required by the Act. To increase funding to the culture and art sector, this Bill proposes to amend the Betting, Lotteries and Gaming Act to introduce a uniform tax of 50 per cent to apply for betting, lotteries, gaming and price competition. The proceeds from those measures shall be ... view
• 9 May 2017 in National Assembly: Thank you, Hon. Temporary Deputy Speaker for the opportunity to contribute to this very important piece of legislation, the Finance Bill 2017. From the outset, this is a Bill that gives us the opportunity to address issues of serious concern from a legal point of view. I am glad this Bill proposes a number of valuable changes to the existing laws. It also brings in new ones which will go a long way in making sure that Kenyans have good governance in terms of financial laws. Let us consider Clause 9 of the Bill. Kenyans are facing a serious challenge ... view
• 9 May 2017 in National Assembly: Islamic finance returns. There are certain things that are allowed in Islam. For instance, you are allowed to pay for the value that you have gained. view
• 9 May 2017 in National Assembly: If you are selling to me something, then I am expected or allowed to pay you the value of what you are selling. What is not allowed is, for example, I lend you Kshs1,000 today and come back to you tomorrow asking you to pay me Kshs1,200. But if you tell me that you are going to invest my Kshs1,000, we share the common risk and your investment will earn you Kshs200 or Kshs400 and we shall share the Kshs200, in that case, I will get my Kshs1,200 back. That is allowed. This particular law comes in to bring in ... view
• 9 May 2017 in National Assembly: There are number of other issues that I would like to raise. I am happy with the issue on the Liquified Petroleum Gas (LPG). We should go a step further in terms of reducing taxes almost completely on these products. Contrary to this, a large number of Kenyans, more than 70 per cent, still use the traditional coal and firewood as their means of energy for cooking. This is not sustainable. I drive on the Garissa Highway everyday and see lorries carrying huge tonnes of charcoal. The question I always ask myself is: How many trees does one lorry carry? ... view