Joseph Kirui Limo

All parliamentary appearances

Entries 721 to 730 of 2163.

• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, I beg to move that the Finance Bill be read the Second Time. Before you took the Chair, there was a heated debate on some sections of this Bill. I want to confirm that this Bill is right in proposing revenue raising measures to ensure that the country bridges the gap in financing. After the Budget was passed, there were shortages that are supposed to be raised. This Finance Bill is attempting to do that. It is also attempting to amend other consequential laws which have elicited some debate before you came. But I want to ... view
• 18 Sep 2019 in National Assembly: dates when we would be sitting. We had stakeholder consultations at the KICC on Wednesday, 21st August and Thursday, 22nd August 2019, where we received presentations. In the first instance, we received more than 40 memoranda from Kenyans. When we had the hearings, we received verbal presentations from most of the stakeholders. The second day, 22nd August, was open and all other Kenyans who had not got a chance to give their memoranda were allowed to present. Of interest is that during public participation, for the first time we received a memorandum from some very important Kenyans who are our ... view
• 18 Sep 2019 in National Assembly: Under Part II of the Bill on income tax, the Bill is proposing to bring a new dimension where there will be taxation for the digital market. The digital market is a virtual market; it is not physical. It is where you go to the market in the air, to use layman’s language. You visit the market, make transactions and complete them without going to the market. This is very popular all over the world now. Therefore, this Bill is proposing to bring that particular market into the tax bracket. At the same time, you remember that there were some ... view
• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, there is a proposal here that instead of taxing the demurrage charges as a standalone income, the demurrage charges will be moved to the income of the shipping line. That way, the consolidated income of shipping line will be taxed as one. view
• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, there is also a proposal to bring in other players in the market to the tax bracket. It is in Clause 6. It includes the security services, cleaning and fumigation services, catering services in and outside hotel premises, transportation of goods excluding air transport and shipping transport, sales promotion, marketing and advertising services. These are services which are majorly offered by Kenyans. Most of them are small-time start-up businesses. In the amendment, which we will be moving at a later stage in the Third Reading, we will be proposing to safeguard the interest of these small ... view
• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, the previous Finance Bill had introduced a concept called presumptive tax in place of turnover tax. To bring Members to speed, turnover tax is the tax paid by small businesses. There are a lot of businesses in the country, for example shopkeepers in the village. Their turnover is below Kshs5 million. Anybody in this country who is in business is required to declare their business turnover. You are supposed to do a self- assessment and declare, for instance, that you will pay tax of Kshs5,000 in a year. That is turnover tax. You declare it as ... view
• 18 Sep 2019 in National Assembly: The previous Finance Bill did away with the turnover tax and in its place brought a presumptive tax. It was introduced to replace the turnover tax. This particular presumptive tax was attached to licensing. With the presumptive tax, if you are in business, you are required to renew your license yearly. So, the intention was that when you are renewing your license you are required to pay 15 per cent of that as presumptive tax. So, say, if you are paying Kshs1,000 for your license, 15 per cent of that being Kshs150 is actually the tax which is paid as ... view
• 18 Sep 2019 in National Assembly: The intention was to collect more tax but they realised that it was difficult to implement. The intention was to bring taxpayers to a register but it was not itself a tax. So, this Finance Bill suggests that we return the turnover tax. So, one is required to assess oneself and declare. However, when you are applying for your license, you also pay a presumptive tax for the purpose of registering yourself as a taxpayer. If you, say, pay Kshs150 as presumptive tax, at the end of the financial year you are allowed to offset that Kshs150. If you assess ... view
• 18 Sep 2019 in National Assembly: There is also a proposal to increase capital gain tax. Currently, capital gain tax is at 5 per cent. This Bill is proposing to raise that to 12.5 per cent under Clause 9. For the Members who are not well conversant with this capital gain tax, if you buy land or a house now and you are in the business of buying and selling, when you sell you are required to declare that having bought it for, say, Kshs1 million and now you are selling at Kshs1.2 million, you have gained Kshs200,000 and so you are supposed to pay 5 ... view
• 18 Sep 2019 in National Assembly: There is also a programme which the Government has been running and the youth of this country should be listening to this one. There is what we call “the Ajira Programme” where the youth, who are well conversant with the digital platform, get to the digital platform that has been developed by the Government and do some digital jobs. There is a proposal here that because currently the youth who are engaged in those Ajira jobs are required to pay taxes at the end of the financial year... There is a proposal which has been brought here to say that ... view