27 Jun 2018 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move:
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27 Jun 2018 in National Assembly:
THAT the Schedule to the Bill be amended— (1) in the proposed amendments to the Income Tax Act by— (a) deleting the proposed amendments to section 2 and substituting therefor the following new amendment— (b) inserting the following new paragraph immediately after the proposed amendment to section 22C(2)— s.2 Delete the definition of “winnings” and substitute therefor the following new definition— “winnings” means the positive difference between payout made and stakes placed in a given month, for each player, payable to punters by bookmakers licensed under the Betting, Lotteries and Gaming Act; (b) inserting the following new paragraph immediately after ...
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27 Jun 2018 in National Assembly:
This is in cognisance that the Bill provides this for the first time. Winnings in this country have never been taxed before. Even when you win Kshs.100 million you just take it but now the Bill is proposing to tax. For this purpose, we are defining winnings to provide that it will be the difference between what the person wins and what he has put in. For example, a situation whereby maybe you have put in Ksh80 and you win Ksh100, then the tax will be the difference between the Ksh100 and 80 to be fair to everyone in terms ...
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27 Jun 2018 in National Assembly:
Thank you, Hon. Temporary Deputy Chairman.
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27 Jun 2018 in National Assembly:
Thank you, Hon. Temporary Deputy Chairman. Let me make it very clear. I know Members have really understood but I think the issue is how to put a period. If you listen carefully to the amendments that have been proposed, for the purpose of tax, there should always be a defined period so that within a month… You know this withholding tax is actually done monthly. So, the definition has taken care of that by saying: “The positive difference between the pay-out made and stakes placed in a given month.” So, in every month, it is the total of what ...
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27 Jun 2018 in National Assembly:
Hon. Temporary Deputy Chairman, there was an interference by the Chairman of the Budget and Appropriations Committee. I am sorry that I did not pay particular attention. I hope you are in the New Section 30A.
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27 Jun 2018 in National Assembly:
No, he was making some consultation.
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27 Jun 2018 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move:
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27 Jun 2018 in National Assembly:
THAT. This particular section be amended by inserting the following new paragraph immediately after the proposed amendment to section 22C (2)— The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor.
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27 Jun 2018 in National Assembly:
NEW Insert the following new section immediately after section 30— 30A.(1) A resident individual who satisfies the Commissioner that in a year of income that the person— (a) is eligible to make an application under an affordable housing scheme; Afford (b) has applied and is awaiting the allocation of a house an affordable housing scheme; able housin and g relief. (c) is saving for a purchase under an affordable housing scheme approved by the Cabinet Secretary in charge of housing, shall for that year of income be entitled to a personal relief in this Act referred to as the affordable ...
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