23 Jun 2020 in National Assembly:
Thank you, Hon. Deputy Speaker.
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23 Jun 2020 in National Assembly:
Thank you. I just wanted to agree with the Chairman and say that this amendment is very important for institutionalization of PPPs. You realise that the Government is borrowing much to fund infrastructure. We have been saying here that some of these debts are very expensive. So, this amendment will ensure that we can fund some of these projects without using our resources. I thank you.
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23 Jun 2020 in National Assembly:
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18 Jun 2020 in National Assembly:
Thank you Hon. Temporary Deputy Speaker for giving me this opportunity to make my contributions to this year’s Finance Bill. I want to start by saying that I support the Bill as presented by the Committee.
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18 Jun 2020 in National Assembly:
The Finance Bill is literally how the economy is going to raise the resources that will be used to fund the Budget. So, throughout my life in this Parliament, this is the first time we have a simpler and clear Finance Bill. I want to make a few remarks on three areas.
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18 Jun 2020 in National Assembly:
On Income Tax, I support the proposal to introduce minimum tax. There are very many businesses in this economy that run each year, but do not pay taxes because they make losses. While doing those businesses, they use the infrastructure that has been set up and funded by taxpayers. Therefore, it is very important that we normalize everybody in tax payment, especially on this line. So, the introduction of 1 per cent tax of turnover of each and every business is going to ensure that all businesses enjoying Government infrastructure pay for it.
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18 Jun 2020 in National Assembly:
The other thing is on the VAT Act. The Bill proposes to cut substantially tax expenditures. In the previous Finance Bills, there have always been proposals to create more exemptions. The exemptions, in a nutshell, have worked towards denying the economy the required resources that it needs to run on. The Bill proposes to substantially cut a number of those exemptions and, in the process, this Finance Bill is going to ensure that the economy realises more than Kshs10 billion of tax expenditure that is going to be saved.
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18 Jun 2020 in National Assembly:
Therefore, those proposals are very important because, as an economy, we have the Budget side which we need to fund and we must raise the resources to fund it. The proposal that is contained here of standardizing VAT on most of those items is going to help.
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18 Jun 2020 in National Assembly:
I also want to add that the Bill proposes to waive VAT on maize and corn seeds. This is very important because, in this era of COVID-19, one of the sectors that this economy is going to 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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18 Jun 2020 in National Assembly:
rely on is agriculture. So, if we are going to allow our farmers to access seeds cheaply, especially maize farmers, it is going to help this economy. This is one of the proposals I support in this Bill.
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