Amos Kimunya

All parliamentary appearances

Entries 5561 to 5570 of 6175.

• 12 Jun 2008 in National Assembly: The ICT sector has emerged as a key driver of our growth and employment. To encourage investment in modern telecommunication equipment, enhance the penetration levels, improve efficiency in our telecommunication network and reduce the cost of telecommunication, I further propose to remove import duty on telecommunication equipment altogether. You may recall that we removed duty on computers and in line with our ICT strategy and in order to promote the development of the ICT industry, I propose to remove the import duty on all printers which are specifically used together with the computers. Mr. Speaker, Sir, under the Vision 2030, ... view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, last year, I imposed an Excise Duty of 120 per cent on plastic bags in line with our East African Community partner States to discourage environmental degradation. I have received presentations from the industry players on the effect this duty has had on the sector and consumers of basic foodstuffs packed in plastic bags. To remove the adverse effects it imposes on the sector and consumers, I am proposing to amend the law to allow for refund of any Excise Duty paid on plastic bags used for packaging by local manufacturers. I expect the traders to pass ... view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, presently, an employer can lodge a dispute only on penalties and interests arising from failure to adhere to the Pay-As-You Earn (PAYE) regulation. An employer, however, cannot lodge dispute on the principal tax assessed. To address this inequity and create a cost- effective avenue for redress, I propose to allow any employer who is aggrieved by any decision of the Commissioner regarding the operations of the PAYE regulation, to lodge an appeal with the local committee. A large proportion of the current debt portfolio owed to the Kenya Revenue Authority (KRA) comprises of interest and penalties, which, ... view
• 12 Jun 2008 in National Assembly: That does not mean that the principal is not payable in time. The Commissioner has other leverage to ensure that it is actually paid when it is due. Mr. Speaker, Sir, I have also continued to receive complaints of transit vehicles being diverted into the local markets and thus posing security and revenue risk to our country. In order to avoid such transit vehicles being diverted, all imported vehicles for home use will be registered before Customs release, while commercial vehicles will be registered within 14 days of the vehicle's inspection. This will also ensure that ownership of vehicles is ... view
• 12 Jun 2008 in National Assembly: To further deter the habit of failure to honour such claims, I propose to give more powers to the Commissioner to initiate the process of winding up of such insurance companies in the event that a company fails to pay both the awarded amount and the penalty within the stipulated period. 1158 PARLIAMENTARY DEBATES June 12, 2008 view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, the local annuities market is not very competitive due to lack of adequate information, thus making it difficult for retirees to identify good annuity providers. In addition, in order to increase the competition for the annuity market, I propose to provide for pension schemes to have an income draw-down as an alternative to annuities, subject to a minimum draw-down period of 10 years. I further propose to introduce a requirement on annuity providers to publish, on a quarterly basis, information on annuity products and rates in the print media. This will go a long way in helping ... view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, all capital market dealers who deal directly with clients and are involved in trading activities on behalf of clients owe those clients a fiduciary duty in carrying out those responsibilities. The market and investors should therefore, not be exposed to the losses arising from the breach of these fiduciary duties through negligence, omissions, misrepresentations or malpractices. In this regard, I propose to introduce a requirement of stockbrokers, investment banks and fund managers to have in place mandatory professional indemnity insurance cover for the failure of their employees. view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, last year, I exempted from stamp duty the transfer of a family property to a limited liability company whose shares are wholly owned by a family to encourage consolidation of family property and to encourage families to register all their land in institutional structures rather than one person in the family hiding the title deed. This year, I am going a step further to exempt from stamp duty the instruments that are used for the transfer of property to a listed property investment vehicle. This measure is expected to further encourage voluntary land consolidation and discourage non-productive ... view
• 12 Jun 2008 in National Assembly: In this regard, the new rates that will be applicable for the categories "a", "b", "c" and "d" will be Kshs700. For "b", Kshs1,200. In "c", Kshs1,500 and in "d", Kshs2,500 per 1,000 cigarettes, respectively. Through this token contribution, I expect to collect an additional Kshs1 billion from these Kenyans. view
• 12 Jun 2008 in National Assembly: Mr. Speaker, Sir, hon. Members will recall that last year I increased the excise tax payable on malt beer by only Kshs2 per litre from Kshs48 to Kshs50 on equivalent of Kshs1 per bottle. Now, following this insignificant adjustment, the industry immediately advertised a price adjustment of Kshs5 per bottle which translated to a net gain to the industry of Kshs4 per bottle. Now, to recoup part of this gain that went to the industry, and to finance the priority programmes in this Budget, I propose that we split that Kshs4 gain by increasing the excise tax on malt beer ... view