In the wake of increased cases of the spread of Corona Virus (COVID-19), we hope you are well.
This is to inform you that the government has announced reforms aimed at simplifying Stamp Duty payment. Through a Public Notice, the Kenya Revenue Authority informs all that it will no longer be conditional to present a Capital Gain Tax acknowledgement Slip before Stamp Duty payment is processed. According to the Notice, the process will be completed on the iTax system. In the Notice, the Kenya Revenue Authority emphasizes that transfer of property still attracts Capital Gains Tax which is payable by the transferor on or before the 20th day of the following month in which the transfer of property is affected.
We remind you to keep taking safety precautionary measures as advised by the government.
On any tax related advisory you may require, please feel free to contact our Tax Unit through Mr. Cyrus Maina via 0721869790 or on email via law@cmadvocates.com.