The Increase of the Capital Gains Tax on Property Sales In Kenya, Effective January 2023

The Finance Act No. 22 of 2022 amended the Income Tax Act by increasing the rate of Capital Gain Tax (CGT) from the rate of 5% to 15%, effective from 1st January 2023. What is Capital Gains Tax (CGT)? CGT is a tax imposed on the gains which accrue on transfer of property situated in Kenya, on or after 1st January 2015 whether or not the property was acquired before 1st January 2015. A transfer of...

The Small Claims Court Does Not Have Jurisdiction Over Claim Of Rent

Introduction Conflicts between tenants and landlords are inevitable. The disagreement many times raises issues that more often than not find themselves before seats of justice. In particular, the tenancies that are not controlled. Where then can such conflicts, if and when they arise, be taken to a court of the first instance? That is the single most important question that this paper will delve right...

Stamp Duty on Purchase of Property

The purchase of land or property is major decision and therefore, all aspects that have a financial implication should be properly evaluated. It is important for the buyer to take into consideration all the tax implications in order to avoid instances of incompliance. The purchaser is required to pay stamp duty on the acquisition of a property. The stamp duty is calculated at the rate of 4% of the...

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