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Why Kenya’s capital gains tax regime needs a rethink
Taxpayers queue to file their returns at the Kenya Revenue Authority’s iTax Support Centre in Eldoret. PHOTO | FILE
Last week, the Kenya Revenue Authority (KRA) issued a notice informing the public that with effect from October 1, 2016 all payments for capital gains tax and stamp duty would be automated and paid through its iTax system.
In addition, the payment dates for stamp duty and capital gains tax (CGT) would be simultaneous and would be on or before the application for transfer of the property at the relevant lands office.
