Henry Rotich

All parliamentary appearances

Entries 41 to 50 of 251.

• 13 Jun 2019 in National Assembly: Hon. Speaker, to support sports, culture and arts, I have also allocated Kshs5.3 billion for the Sports, Arts and Social Development Fund to support the youth, women and persons living with disabilities in areas such as sports and arts. view
• 13 Jun 2019 in National Assembly: To promote equitable regional development, we have provided Kshs41.7 billion for the National Government Constituencies Development Fund (NG-CDF) and Kshs2.3 billion for Affirmative Action Fund to promote regional equity and social development. We expect these funds to augment national Government functions, especially school infrastructure to ease the shortages associated with the 100 per cent transition policy. view
• 13 Jun 2019 in National Assembly: I have also allocated Kshs5.8 billion to the Equalisation Fund to finance programmes in the marginalised areas. view
• 13 Jun 2019 in National Assembly: The rest of my presentation summarises various tax measures and miscellaneous amendments that I intend to introduce through the Finance Bill, 2019 and regulations to realise the objectives set out in the Big Four Agenda. The tax policy measures in this Budget are expected to generate additional Kshs37 billion in tax revenue to the Exchequer. The new Income Tax Bill that benefitted from extensive public consultations is at the final stage of legal drafting before it is submitted to this House shortly. Accordingly, I will make limited changes to the Income Tax Act to enhance equity and fairness. The electronic ... view
• 13 Jun 2019 in National Assembly: After four years of implementation, there is need to review the Capital Gains Tax legislation in order to enhance equity and fairness as well as harmonise the rate which other jurisdictions, including the East Africa Community (EAC) region, where the rate ranges from 20 per cent to 30 per cent. Consequently, I propose to increase the rate of Capital Gains Tax from 5 per cent to 12.5 per cent. Further, in order to allow for seamless restructuring of corporate entities, I propose to exempt from the Capital Gains Tax the transfer of property that is necessitated by restructuring of corporate ... view
• 13 Jun 2019 in National Assembly: With the increasing demand for mobilise resources, there is need to expand the tax base and enhance our revenue. Over the years, with the expanded economy, there has been an increase in services that are offered on commercial basis, some of which are not within the ambit of withholding tax. I, therefore, propose to expand the scope of application of withholding tax by subjecting additional services, other than management and professional fees to Withholding Tax. These services include security, cleaning and fumigation services, catering services offered outside hotel premises, transportation of goods excluding air transport services, sales promotion, marketing and ... view
• 13 Jun 2019 in National Assembly: Hon. Speaker, the Kenyan economy and the world economy at large, is fast changing to keep up with technological advancements. In particular, the digital economy is fast evolving thereby posing challenges to taxation. This is due to the unparalleled reliance on intangibles, the massive use of data, the widespread adoption of multi-sided business models and the difficulty of determining the jurisdiction in which value creation occurs. This has led to erosion of our tax base, hence low tax revenue since the existing system is not equipped to deal with these emerging challenges. In this regard, I have proposed a raft ... view
• 13 Jun 2019 in National Assembly: the taxpayers. In order to address these challenges, I propose to reduce the rate of VAWT from 6 per cent to 2 per cent. view
• 13 Jun 2019 in National Assembly: This will not only help reduce the build-up of VAT refunds, but will also help enhance the cash flow of our business community and stimulate economic activities and job creation. Kenya is positioning herself as a leading assembler of electronics and computers within the region. This development initiative will transform Kenya into a major manufacturer and supplier of electronics and computers in the EAC. In order to encourage the growth of this sector, I propose to exempt from VAT locally manufactured mother boards and all inputs used in their manufacture. This will make them more competitive against imported mother boards. ... view
• 13 Jun 2019 in National Assembly: proliferation of cheap finished timber products and to enhance local production, I have proposed to retain an ad valorem rate of import duty at 25 per cent with corresponding specific rate of import duty on the products. Betting has become widespread in our society and its expansion has had negative social effects, particularly to the young and vulnerable members of our society. In order to curtail the negative effects arising from betting activities, I propose to introduce Excise Duty on betting activities at the rate of 10 percent of the amount staked. view