Thursday, June 8, 2017

How to Pay Stamp Duty Using Itax



The Transferee/Buyer will log into their iTax profile through the iTax portal – https://itax.kra.go.ke  with their PIN and password.
  • Go to the Payments Menu
  • Select Payment Registration and click next
  • On the Payment Registration form, you will select the Tax Head as Agency Revenue and the Tax Sub Head as Stamp Duty
Itax Platform
Declare the PIN(s) of the Transferor/Seller/Vendor/Owner and click on the add button
Declare the PIN(s) of the Transferee/Buyer details and click on the add button
  • Select the Type of Instrument, Declared Value, Date of Instrument (depending on the instrument other fields may be open like Title number, L.R number, Reference number, Location, Area/Size), the total amount to be paid.
  • Select the Mode of Payment and the Receiving Bank Name,
  • Submit the form, download the payment slip, print two copies and go make the payment at the selected bank
If paying through mobile money select mode of payment as cash and receiving bank name as M-payment and submit.  
If using Mpesa, KRA Paybill Number is 572572 and the account number is the Payment Registration Number which is below the date on the top right of the payment slip.
If using Airtel Money dial the KRA USSD code *572#, select payments menu and enter the payment registration number (E slip number) and pay the exact amount as per the payment slip. Your payment will reflect in real time in your iTax ledger account.

Please Note:
Taxpayers are advised to first visit the Ministry of Lands offices, registries or Huduma desk for assessment of the correct stamp duty payable before they log in to iTax and generate a payment slip for the assessed stamp duty.

Friday, June 2, 2017

Self-Assessment Is Important



“Courage doesn’t happen when you have all the answers. It happens when you are ready to face the questions you have been avoiding your whole life.”

Self Assessment
It is important for one to keep on carrying a self-assessment from time to time. This will help one to check his or her progress in life. This assessment will involve checking where one has come from, where the person is at the moment and where one wants to be in the future. You will also need to ask yourself some hard questions. After this self-assessment, one will be able to see if he or she is moving forward, is stagnant or worse moving backwards.

Depending on the results you get, you will then be able to decide what to do. The self-assessment will give you the truth of the matter. It will then be possible to enhance oneself and gear yourself to higher achievement.