CGT was first suspended in 1985 and was re- introduced with effect from 1st January 2015. The current rate is at five percent (5%) of the net gains; which is the excess of the transfer value and the adjusted cost of the property. This is a final tax and does not offset any other income taxes.
The transferor accounts for this tax. Although there have been various challenges faced in rolling out the CGT regime, various strides have been taken to address these challenges. In this article we address some key updates in the CGT regime, including the most recent requirement by the Kenya Revenue Authority (KRA) to review CGT exempt transactions before accounting for the tax.
09th May 2024
09th May 2024
13th Mar 2024