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How to Register for a Stamp Duty Tax in Kenya

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How to Register for a Stamp Duty Tax in Kenya by Kenyans247(1): Sat 14, March, 2020 03:39pm
Procedure
The law stipulates that all equires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped and taxes deducted or to be deducted and paid to government.

Any written document that is not stamped is not allowed to be received in any judicial proceeding in Kenya until the stamp duty and the resulting penalty for the non-payment of the stamp duty is paid. Tax Forms A will be supplied free of charge to tax payer.if you are the Real estate developer you should approach the relevant Tax Offices in your various Local Area where they operate to collect tax Form A, for distribution to your Real Estate. You should certify the correctness of the stamp duty and declared in the forms by your Real Estate to ensure that correct reliefs are granted the owners of the property.


Owner-occupier properties occupied by pensioners, family compounds, properties occupied by recognised traditional rulers, public libraries, cemeteries and burial grounds, and properties owned and occupied by a religious body but used exclusively for public worship or religious education, are exempted from the provisions of the Land Use Charge Law in Kenya.


The receiving officer should take all of them, stamp them and give you back one of the copies for your files. The manual method requires you to pay at the bank and then go back to relevant tax offices to confirm the submission. Remittances must be done within 30 days of the end of each month in order to prevent payment of interest and penalty for late payment. A receipt must be collected by the employer for any remittance made.

Required Documents
The registration requirements are as follows:

A copy of certificate of incorporation.
Letter of application for registration.

Upon completion of registration, the tax payer is issues with Identification Number.

Validity
Valid for one year



Office Locations & Contacts
The Kenya Revenue Authority (KRA)
Times Tower, Haile Selassie Avenue

P.O Box 30742 00100, GPO,Nairobi

Eligibility
All employers of private and government institution.



Fees
Generally, Stamp Duties is charged at the rate of 75 for every Ksh200 of the consideration of certain real estate transactions like mortgages, while for conveyances or the transfer or sale of real property, the stamp duties rate is 75 for every Kshs50. The Stamp Duties rate for lease and rental agreements is 16 for every Ksh200 of the consideration of the lease or rental agreement.

A flat rate of 2% as Capital Gains Tax and 2% as Stamp Duties Tax are paid on the gross profit , a new owner of a real property in Nairobi State will also be liable to pay 3% of the accepted consideration of the property as Registration fee, and a further 8% of the value of the property as city Authorities may decide.

Processing Time
processing takes one days

Instructions
The Stamp Duties Act requires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped.


Required Information
Name of Taxpayer
Taxpayer Identification Number
Business Name or Trade Name of Taxpayer

Status
Bank Details
Name of Bank
Bank branch
Account Number
Type of Employment
Total Income Chargeable Income Total Tax Payable
Details of Property paid and Stamp Duty deducted from any written instrument. .

Need for the Document
The Stamp Duties Act requires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped.

Generally, The Stamp Duty is a form of revenue for the Government.Section 5 provides that every instrument set out in the Schedule to the Act, irrespective of where it was signed as long as it relates to property in Kenya, shall be chargeable with stamp duty specified in the said Schedule.

Under Section 6 of the Stamp Duty Act documents executed in Kenya and which require stamping must be stamped within 30 days of execution. 30 days from the date of the document.

For documents executed outside Kenya, Stamp Duty must be paid within 30 days of receipt of the documents in Kenya. This becomes a matter of fact as the date the document was received in Kenya has to be proved.

External Links
http://www.kenyalawresourcecenter.org/2011/07/stamp-duty.html

http://www.revenue.go.ke/index.php/income-tax-downloads

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