19 May 2021 in National Assembly:
The legal basis for granting an exemption as contained in Legal Notice No.15 of 2021 is stipulated in Section 13(2) of the Income Tax Act, Cap 470 which empowers the Cabinet Secretary to exempt certain Income Tax. Section 13(2) of the Income Tax Act, Cap 470 empowers the Cabinet Secretary responsible for the National Treasury by notice in the KenyaGazette to provide that any income or class of income which is accrued in or was derived from Kenya be exempted from tax to the extent specified in such a notice and that any exemption shall cease to have effect generally ...
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19 May 2021 in National Assembly:
Hon. Temporary Deputy Speaker, there is also the Intergovernmental Steering Committee on Drought and Food Security. There is also established a County Drought Committee which will be based at the county, made up of various officers of the county government. The Regulations, further, provide for an oversight by Parliament through annual reporting by the Auditor-General and quarterly reporting on projects financed by the Fund. On scrutiny of the instrument, the Committee found that the regulatory-making authority was within the law in terms of the Constitution of Kenya, the Interpretation and General Provisions Act, the Public Finance Act, the National Drought ...
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19 May 2021 in National Assembly:
He is a Member of the Committee.
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19 May 2021 in National Assembly:
Hon. Deputy Speaker, I am summarising. I am actually ending.
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19 May 2021 in National Assembly:
Thank you, Hon. Deputy Speaker. Therefore, the recommendation is that pursuant to Standing Order No.210 (4) and having examined Legal Notice No.15 of 2021 in line with the Constitution, the Interpretation and General Provisions Act, the Income Tax Act and the Statutory Instruments Act, the Committee recommends that the House approves the exemption from Income Tax for Japanese companies, consultants and employees in accordance with Section 62 of the Income Tax Act (Cap 470). I beg to move and ask my Vice-Chairman, Hon. Charles Njagagua, to second. I thank you.
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19 May 2021 in National Assembly:
Hon. Temporary Deputy Speaker, I do not know why the Member for Kikuyu is so excited this afternoon. Hon. Temporary Deputy Speaker, I beg to move the following Motion: THAT, this House adopts the Report of the Committee on Delegated Legislation on its consideration of Legal Notice No.27 of 2021 on the Exemption from Income Tax for Airlines with Government of Kenya shareholding of at least 45 per cent and its subsidiaries, laid on the Table of the House on Thursday, 13th May 2021, and pursuant to the provisions of Section 13(3) of the Income Tax Act, approves Legal Notice ...
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19 May 2021 in National Assembly:
The objects and purpose of the exemption before us is to exempt an airline including its subsidiaries where the Government owns at least 45 per cent of its shares, from minimum tax imposed under Section 12D of the Income Tax Act.
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19 May 2021 in National Assembly:
This Legal Notice seeks to exempt from the Income Tax income derived from or accrued in Kenya from the provisions of Section 12D of the Income Tax Act (Cap 470) which introduced minimum tax payable by all entities regardless of whether they are in a profit-making position or not.
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19 May 2021 in National Assembly:
Hon. Temporary Deputy Speaker, the Kenya Airways Limited requested to be exempted from paying minimum tax citing the following grounds- i. The COVID-19 Pandemic affected the operations of airlines worldwide and therefore worsened the financial position of the already ailing airline which has been making losses in the recent past. ii. Considering its financial operations, the minimum tax will render the company’s operations unsustainable. iii. The airline continued to pay lease expense even during suspension of all international operations occasioned by the COVID-19 Pandemic. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of ...
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19 May 2021 in National Assembly:
Thank you very much, Hon. Deputy Speaker.
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