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Corporation tax on sale of land

Corporation tax on sale of land

Tax Alert

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Land sale

This alert brings to your attention the Tax Appeals Tribunal’s (TAT) decision in the case of Ruaraka Diversified Investments Limited (Appellant) vs. Commissioner of Domestic Taxes (Respondent), Tax Appeal No. 86 of 2019. The Appellant had moved to the TAT seeking to overturn the Respondent’s corporation income tax (CIT) assessment amounting to KES 672,150,686 on sale of land for the period 2013 – 2015.

 

The Appellant was registered in Kenya in April 2012 as a branch of a Mauritius company to invest in real estate. Prior to registration of the Kenyan branch, the Mauritius company had undergone multiple changes in its name.

 

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