President Uhuru Kenyatta on Wednesday issued his first statement following the endorsement of the Constitution (Amendment) Bill 2020 by over 24 county assemblies.
Who told you BBI ni ya Uhuru? - President's statement after referendum Bill proceeded to Parliament
Do not be fooled - Uhuru
While speaking at the Moi International Sports Centre, Kasarani, the president urged Kenyan youth to ignore misleading political rhetoric around the Bill, which is popularly known as the Building Bridges Initiative (BBI) referendum Bill.
Following the "BBI Super Tuesday" drive, the draft Bill surpassed the required 24 county assembly approvals and will now proceed into the Parliament stage.
He highlighted the seven-year tax holiday contained in the proposed constitutional amendment asking the youth to consider the benefits they would reap from the BBI Bill.
"If for instance, one of the grantees of this project decides to start a nail-making business, he or she plans to spend about 1.2 million shillings buying the necessary equipment and setting up.
"Market estimates suggest that the net returns to such a start up business would be about Sh.150,000 shillings a month or Sh1.8 million per year. In a normal tax scenario, the young entrepreneur would owe KRA about Sh.540,000 shillings of the Sh.1.8 million profit each year. And in 7 years, they would have paid KRA approximately 3.7 million shillings in taxes," the president illustrated.
In a veiled clap back to those who opposed the referendum bill, the President asked young people to shun hand-outs.
"Sasa vijana mkiambiwa hii BBI ni ya Uhuru... hii pesa mnataka ikae kwa mifuko yenu ama ichukuliwe na KRA? Wenzetu mjue kujisaidia na kusimamia haki zenu sio kudanganywa na kutupiwa… anyway wacha niache hiyo.
"(Who told you that BBI is going to benefit Uhuru? Do you want your hard-earned money to stay in your pockets or be taken by KRA? Kenyan youth, you need to be keen on empowering yourselves and fighting for your rights! Instead of being fooled and coaxed with some flimsy handouts like... but let me not go there)," Uhuru remarked.
The President was speaking during the launch of the 2020 to 2024 Youth Enterprise Development Fund strategic plan.
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