The Kenya Stamp Duty Act is a legislation that regulates the imposition and collection of stamp duty on various legal instruments and transactions in Kenya. Stamp duty is a tax levied on documents such as conveyances, transfers, agreements, and other legal instruments, with the primary objective of raising revenue for the government. The Act outlines the following key aspects: 1. Definition of instruments and transactions subject to stamp duty: The Act defines the types of instruments and transactions that are liable for stamp duty, including conveyances, transfers of property, leases, mortgages, agreements, and certain commercial documents. 2. Rates of stamp duty: The Act specifies the rates of stamp duty applicable to different types of instruments and transactions. These rates may be fixed amounts or percentages based on the value of the transaction or the consideration involved. 3. Valuation of instruments: The Act provides guidelines for determining the value of instruments subject to stamp duty, such as property valuations, consideration amounts, or other relevant factors. 4. Exemptions and reliefs: The Act outlines certain exemptions and reliefs from stamp duty, such as exemptions for specific types of transactions, reliefs for certain categories of individuals or organizations, or reliefs based on the purpose or nature of the transaction. 5. Procedures for stamping and payment: The Act establishes the procedures for stamping instruments and paying stamp duty, including the time frames for payment, methods of payment, and penalties for late payment or non-payment. 6. Adjudication and disputes: The Act provides mechanisms for resolving disputes related to stamp duty, including the appointment of adjudicators, procedures for appealing assessments, and penalties for evasion or fraud. 7. Administration and enforcement: The Act outlines the roles and responsibilities of various authorities, such as the Kenya Revenue Authority (KRA), in administering and enforcing the stamp duty laws, including powers for inspection, assessment, and collection of stamp duty. The stamp duty collected under this Act contributes to the government's revenue, which is essential for financing public services, infrastructure development, and other national priorities. The Act aims to ensure a fair and efficient system for collecting stamp duty while providing clarity and transparency for individuals and businesses engaged in transactions subject to stamp duty. By regulating the imposition and collection of stamp duty, the Act plays a crucial role in supporting the government's fiscal policies and promoting compliance with tax laws in Kenya.