Joseph Kirui Limo

All parliamentary appearances

Entries 731 to 740 of 2163.

• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, under Clause 13, the Bill is proposing to give an incentive to any company which will be engaged in plastic recycling. It will be given an incentive of 15 per cent for 5 years. This is to encourage participation in cleaning the environment in line with the ban on plastics. However, the question is: where will they get plastic? This is because plastic bags were banned completely. It is not practically possible to ban all plastics. So, the existing packaging plastics are supposed to be recycled and we are supposed to avoid littering. Therefore, this Bill ... view
• 18 Sep 2019 in National Assembly: On the Value Added Tax (VAT), this Bill is proposing to move some items from tax exempt to zero-rating. I think this jargon has been used for a long time. I would like to explain the difference between zero-rating and tax exempt. All the items in the country are treated as standard related, namely, the tax rate on VAT is 16 per cent unless otherwise specified. This means that, if indeed, the Government intends to reduce the standard rate of 16 per cent to another one, that particular item will be listed under the First Schedule, which is tax exempt, ... view
• 18 Sep 2019 in National Assembly: In the recent past, we have not been having other rates other than 16 per cent. It has been a while since we operated other rates. Other countries have rates of 3, 10, 16 or 20 per cent, but in Kenya, we have always maintained 16 per cent for a while. Last year, because of public interest, the Government thought it would be better to introduce 8 per cent tax on petroleum products. You can recall very well the drama which was in this House. So, currently, we have 8 per cent tax. view
• 18 Sep 2019 in National Assembly: If an item is zero-rated, it is taxed at zero percent, but if it is exempt, it is not taxed. This means that if a manufacturer is manufacturing goods using inputs taxed at 16 per cent, if the product is tax exempt, then when selling in the market, they will be unable to recover the 16 per cent tax. The product will not attract tax. So, for that manufacturer to reclaim the 16 per cent on the inputs used to produce the product, they load the 16 per cent to the final price making the product more expensive. The electronic ... view
• 18 Sep 2019 in National Assembly: If the product is zero-rated, the manufacturer will be allowed to claim the 16 per cent from the tax man, namely, the KRA or the National Treasury. Therefore, that product will be cheaper. So, if the Government wants a product to be cheaper, then they zero-rate it. Zero-rating has majorly been left for exports. On Excise Duty, this Bill is proposing a 10 per cent Excise Duty on betting, which is treated as a sin. Therefore, any tax on betting is called “sin tax”. It is the same as taxation on cigarettes and alcohol. They are in the same family ... view
• 18 Sep 2019 in National Assembly: The objective of the sin tax is to discourage Kenyans from venturing into betting. There was a view that this tax is not enough. Therefore, at a later stage, we will propose to move it to a higher rate of 20 per cent. It is proposed that the Excise Duty on cigarettes and alcohol will be charged at 15 per cent. To encourage local manufacture of motor vehicles, this Bill is proposing an additional tax of five per cent on small and high capacity vehicles. This Bill is proposing a reduction of Withholding Tax. In the last Finance Bill, I ... view
• 18 Sep 2019 in National Assembly: After you leave the TTI, you are given a start-up pack or a tool box so that you are enabled to participate in economic activities directly. If you are a carpenter, a mason or you want to engage in making of shoes like a cobbler and the rest, you are given a tool box. However, this can be addressed at a later stage when we fund the TTIs to give those start-up packs. That way, we will be able to use the wet blue and the skin, which is produced in Kenya. For now, we propose some amendments to save ... view
• 18 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, there is also a proposal to register the business cluster of people called consolidators. Remember when the President visited the new terminal, there was an issue in terms of clearing of goods at the port. The small business people are not able to fill a container when they are importing. So, what happens is that they come together and fill one container. The people who do that are called “consolidators”. This Bill has brought those consolidators into registration, so that they help consolidate and bring goods together. This will lessen the hustle of clearing and checking ... view
• 18 Sep 2019 in National Assembly: further progressive amendments which will make accountants more respected and ensure that in future, when accountants retire from employment, they can practise accounting and will be respected the same way lawyers and engineers are respected. At least, there is a role which accountants will play in the economy of the country when transactions are being done. Finally, the Bill is also proposing to amend Section 2 of the Proceeds of Crime and Anti- Money Laundering Act, about which there was a debate in this House and there is a pending Speaker’s ruling. In fact, I confirm that in the stakeholder ... view
• 17 Sep 2019 in National Assembly: Hon. Speaker, I beg to lay the following Paper on the Table of the House: Report of the Departmental Committee on Finance and National Planning on its consideration of the Finance Bill, 2019. view