Capital gains tax brackets single how to#
How To Determine the Transfer Value/Selling Prices for the purpose of CGT Costs incurred in valuation of the property.Some allowable expenses for the purposes of CGT include On the abandonment, surrender, cancellation or forfeiture of, or the expiration of substantially all rights to property, including the surrender of shares or debentures on the dissolution of a company.On the occasion of the loss, destruction or extinction of property whether or not a sum by way of compensation is received in respect of the loss, destruction or extinction unless that sum is utilized to reinstate the property in essentially the same form and in the same place within one year or within a longer period of the time approved by the Commissioner.If property is sold, exchanged, conveyed or otherwise disposed of in any manner (including by way of gift), whether or not for consideration.Net Gain = (Transfer value - Incidental Costs on Transfer) - Adjusted Cost ( Acquisition Cost + Incidental Costs on Acquisition + Any enhancement Cost) What constitutes a transfer? Net Gain is Sales Proceeds minus the Acquisition and Incidental costĬGT is on gains arising from sale of property. the Capital Gain is not subject to further taxation after payment of the 15% rate of tax. (effective 1 st July 203)ĬGT is declared and paid by the transferor of the property. Similarly, CGT will also apply where a non-resident person who holds more than 20% of the share capital of a Kenyan company directly or indirectly disposes off their interest.Gains arising from the sale of shares or comparable interests in foreign entities which derive more than 20% of their value directly or indirectly from immovable property situated in Kenya to CGT in Kenya.
Gains which accrued to a company, an individual or partnership on or after 1 st January 2015 on transfer of property situated in Kenya, acquired on or before January 2015.
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