22 Apr 2020 in National Assembly:
I want to bring to the attention of hon. Members that these particular bonds include securities used to raise funds for infrastructure. This is, therefore, in the interest of the Government. If you are not attractive, then no one will buy your bonds.
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22 Apr 2020 in National Assembly:
Hon. Chairman, I beg to move: THAT, the Schedule be amended— (a) in the proposed amendments to the Income Tax Act (Cap. 470), by— (xix) deleting the proposed amendment to paragraph 60 of the First Schedule;
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22 Apr 2020 in National Assembly:
This is on green bonds. These are infrastructural bonds that are raised for the purpose of investing in green projects. This was introduced in the Finance Bill, 2019. We are proposing that it be given more time to run before a decision can be made to impose tax.
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22 Apr 2020 in National Assembly:
Hon. Chairman, I beg to move: THAT, the Schedule be amended— (a) in the proposed amendments to the Income Tax Act (Cap. 470), by— (xx) deleting the proposed new item (viii) of paragraph 2(a) of Head B (Rates of Tax) of the Third Schedule and substituting therefor the following new item⸺ (viii) For the year of income 2020 and each subsequent year of 5.00 income. 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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22 Apr 2020 in National Assembly:
The purpose of this amendment is to introduce number 5 because the current Bill had omitted it. It was a reduction of income tax from the current 30 per cent to 25 per cent. This is just to correct an error in the Bill.
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22 Apr 2020 in National Assembly:
Hon. Chairman, I beg to move...
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22 Apr 2020 in National Assembly:
Which one is that?
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22 Apr 2020 in National Assembly:
I beg to move: THAT, the Schedule be amended— (a) in the proposed amendments to the Income Tax Act (Cap. 470), by— (xxi) Inserting the following proviso to the new paragraph (q) in the proposed amendment to paragraph 3 of the Third Schedule – Provided that with regard to transportation of goods, the rate shall not be applicable to East African Community citizens. 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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22 Apr 2020 in National Assembly:
This is to introduce a proviso to the amendment which was being done in the Bill so that it could recognise the East African Protocol to exclude East African Community citizens when it comes to transportation of goods.
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22 Apr 2020 in National Assembly:
I beg to move: THAT, the Schedule be amended— (b) in the proposed amendments to the Value Added Tax Act, 2013, by— (i) deleting the proposed amendment to Section 2; The purpose of this amendment is to delete the definition of “bread” because the amendments touching on bread were not supported in the Bill. Therefore, there is no need of defining what ordinary bread means.
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