The Nation Newspaper Senate plans bill on emergency intervention to stimulate economy
The Senate has expressed its commitment to adopting measures aimed at alleviating the prevailing economic hardship in the country.
It noted: “To address exchange rate management issues, challenges of inflation, address poverty, and create jobs, there is a need to consider and approve the Emergency Economic Intervention Bill from the Executive as a proposed legislation from the Presidential Committee on Fiscal Policy and Tax Reforms.
It also noted that “it would simplify the tax system, reduce duplication of efforts, and make it easier for taxpayers to comply with the law.”According to the communique, lots of tax policies, for instance, the Stamp Duty Act of 1939 shall be reviewed to conform to the present realities of doing business in the country.
“Review the Stamp Duty Act of 1939 and other obsolete and anachronistic laws in conformity with present realities.
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