4 Dec 2024 in National Assembly:
Molo, UDA): I beg to move: THAT, Clause 6 of the Bill be amended by deleting the word “six” and substituting therefor the word “twelve” appearing in the proposed new subsection (1)(b)(ii).
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4 Dec 2024 in National Assembly:
This amendment seeks to extend the period in which a taxpayer may apply for tax refund of an overpaid tax, other than income tax, to 12 months. This amendment aligns the Bill with the Excise Duty Act that provides for one to claim a refund within 12 months from when the duty was paid.
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4 Dec 2024 in National Assembly:
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.
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3 Dec 2024 in National Assembly:
(Molo, UDA) Hon. Temporary Speaker, I beg to move that the Tax Laws Amendment Bill be now read a Second Time. This is one of the most progressive pieces of legislation the Committee of Finance and National Planning has processed. We have proposed an array of amendments that will ensure that we lower the tax burden of the people of Kenya as we maintain principles of supporting local manufacturers. One of the amendments the Committee will propose will be on the digital service tax. We have listened to Kenyans' opinions on the digital service tax. If it is not amended, ...
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3 Dec 2024 in National Assembly:
(Molo, UDA) Thank you, Hon. Temporary Speaker, for your protection. I had the privilege of not just sitting in the Committee when we were doing public participation as we moved around six counties, but also interacting with what the members of the public said. It is, therefore, important that as I speak on these particular matters, I explain what is contained in the Bill, what the members of the public said and what the Committee is recommending so that the House is well informed on these matters. Hon. Speaker, the introduction of Social Heath Insurance Fund (SHIF), Housing Levy, and ...
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3 Dec 2024 in National Assembly:
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3 Dec 2024 in National Assembly:
because the three deductions are first of all based on the gross amount and are not tax allowable for Pay As you Earn (PAYE) apart from NSSF. This Bill, therefore, provides that those statutory deductions be tax allowable for PAYE so that we can try to increase the disposable income that is available to employed Kenyans. Once their take-home and disposable income increases, it is going to ease the cost of living and increase their purchasing power Clause 3 of the Bill is proposing to amend the limit for non-taxable benefits related to employment, increasing it from Ksh36,000 to Ksh60,000 ...
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3 Dec 2024 in National Assembly:
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3 Dec 2024 in National Assembly:
In light of these considerations, while the proposed taxes may generate additional revenue for Government, they also risk undermining foreign investment inflows, market stability and economic growth. As Members of Parliament, it is crucial to carefully assess the potential implications of these measures and balance revenue objectives with the need to maintain a conducive environment for investment and development. Consequently, the Committee decided that this amendment needs to be dropped so that we prioritise long-term economic stability and growth over short-term revenue. Based on these considerations, the Committee recommends deleting the proposal to tax interest income and from infrastructure bonds. ...
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3 Dec 2024 in National Assembly:
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.
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