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Kenya Gazette Supplement No SPECIAL ISSUE Kenya Gazette Supplement No. 35 (Acts No. 4) REPUBLIC OF KENYA KENYA GAZETTE SUPPLEMENT ACTS, 2012 NAIROBI, 2nd May, 2012 CONTENT Act— PAGE The Finance Act, 2012 147 PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTER, NAIROBI 1 147 THE FINANCE ACT No. 4 of 2012 Date of Assent: 27th April, 2012 Date of Commencement: See Section 1 An Act of Parliament to amend the law relating to various taxes and duties and for matters incidental thereto ENACTED by the Parliament of Kenya, as follows - PART I - PRELIMINARY 1. This Act may be cited as the Finance Act, 2012, and Short title and shall come into operation, or be deemed to have come into • commencement operation, as follows - (a) section 23, on the 1 St January, 2006; (b) sections 6, 10, 11, 12(a), 13, 16(a)(i), 16(a)(ii) 18, 19, 20, 21 and 22(a)(i), on the 9 u' June, 2011; 1 (c) sections 3, 4, 5, 9, 14, 17, 22(b), 25, 27, 28, 29, 30, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 49, 52, 53, 54, 55, 56, 57, 58, 59, 60 and 61, on the 1 st January, 2012; (d) sections 2, 7, 8, 24, 26, 31, 45, 46. 47. 48, 50 and 51, on the 2nd May, 2012; (e) sections 12(b), 15, 16(a)(iii), 16(b) and 22(a)(ii), on such date as the Minister may, by notice in the Gazette, appoint. 148 No. 4 Finance 2012 PART II — CUSTOMS AND EXCISE Amendment of 2. Section 95 of the Customs and Excise Act is section 95 of Cap.472. amended — (a) in subsection (5)(a) by inserting the words "or such further period, not exceeding six months, as the Commissioner may, on the application of a licensee, permit in respect of that licence" and (b) by inserting the following new Subsection after subsection (5) — "(6) The Commissioner shall ensure that a metering device prescribed under subsection (4) does not compromise the safety of the goods or materials that are manufactured by a licensee or the health of the consumers of such goods or materials". Amendment of 3. Section 119 of the Customs and Excise Act is section 119 of Cap.472.. amended by inserting the following new subsection immediately after subsection (6) — (7) Notwithstanding the provisions of subsection (1) and (1A), the Minister may, by notice in the Gazette, adjust the specific rate of excise duty to take account of inflation. 149 No. 4 2012 Finance 4. Section 127C of the Customs and Excise Act is Amendment of section 127C of amended in subsection (2) by adding the words "except in the Cap.472. case of beer and wine, where the value shall be the retail selling price as determined in accordance with the regulations" immediately after the words "ex-factory selling price". 5. Section 139 of the Customs and Excise Act is Amendment of by inserting the following new section 139 of amended in subsection (1) Cap.472. paragraph immediately after paragraph (h) — "(i) that in the case of water, remission shall be granted to such extent as the Minister may, by notice in the Gazette, specify." 6. The Fifth Schedule to the Customs and Excise Act is Amendment of the Fifth amended - Schedule to Cap.472. 1 (a) in the manner specified in Part I of the First Schedule to this Act; (b) in the manner specified in Part II of the First Schedule to this Act; (c) in the manner specified in Part III of the First Schedule to this Act. PART III — VALUE ADDED TAX 7. The Seventh Schedule to the Value Added Tax Act is Amendment of the Seventh amended in paragraph 6(5) by deleting the word "an" Schedule to appearing after the words "any person to use" and Cap.476. substituting therefor the words "a General Packet Radio Service (GPRS) enabled." 150 No. 4 Finance 2012 Amendment of 8. The Eighth Schedule to the Value Added Tax Act is Eighth Schedule to Cap 476. amended in Part A in the manner specified in the Second Schedule to this Act. PART IV — INCOME TAX Amendment of 9. Section 2 of the Income Tax Act is amended by section 2 of Cap.470. inserting the following new definition in proper alphabetical sequence- "real estate investment trust" shall have the Cap. 485A meaning assigned to it in the Capital Markets Act; "winnings" shall have the meaning assigned to it Cap. 131 in the Betting, Lotteries and Gaming Act. Amendment of 10. Section 4 of the Income Tax Act is amended in section. 4 of Cap 470. paragraph (c) by deleting the expression "respect of'. Amendment of 11. Section 5 of the Income Tax Act is amended in section 5 of Cap.470. subsection (4) — (a) by inserting the words "or his beneficiaries" immediately after the words "full time employee" wherever they occurs in paragraph (b); (b) by deleting paragraph (h) and substituting therefor the following new paragraph — (h) For the purposes of this subsection — 151 2012 Finance No. 4 (0 "beneficiaries" means the full time employee's spouse and not more than four children whose age shall not exceed twenty-one years; and (ii) "low income employee" means an employee whose taxable income is not subject to tax at the rate of more than twenty per cent under Head B of the Third Schedule to this Act. Section 10 of the Income Tax Act is amended — Amendment to 12. section 10 of Cap.470. (a) in paragraph (c), by inserting the words "and deemed interest" immediately after the word "interest"; (b) by inserting the following new paragraph immediately after paragraph (f) — (g) winnings from betting and gaming. Section 16 of the Income Tax Act is amended by Amendment of 13. section 16 of inserting the following new subsection immediately after Cap.470. subsection (4)- (5) The Commissioner shall prescribe the form and manner in which the deemed interest shall be computed and the period for which it shall be applicable. I 52 No. 4 Finance 2012 Amendment of 14. Section 20 of the Income Tax Act is amended by section 20 of Cap .470. inserting the following paragraph immediately after paragraph (b) — "(c) a real estate investment trust" Amendment to 15. Section 34(2) of the Income Tax Act is amended by section 34 of Cap.470. inserting the following new paragraph immediately after paragraph (h) — (i) winnings from betting and gaming. Amendment of 16. Section 35 of the Income Tax Act is amended — section 35 of Cap.470. (a) in subsection (1) — (i) by deleting the words "aircraft or aircraft engines" appearing in paragraph (c) and substituting therefor the words "aircraft, aircraft engines, locomotives or rolling stock"; (ii) by inserting the words "and deemed interest" immediately after the word "interest" wherever it occurs in paragraph (e). (iii) by inserting the following new paragraph immediately after paragraph (i) — (j) winnings from betting and gaming; 153 2012 Finance No. 4 (b) in subsection (3), by inserting the following new paragraph immediately after paragraph (h) — (i) winnings from betting and gaming. 17. The Income Tax Act is amended by inserting a new Insertion of section 41A in of section immediately after section 41 as follows - Cap.470. Agreements for 41A. The Minister may, by notice in the exchange of information. Gazette, from time to time declare that arrangements specified in the notice, being arrangements made with the government of any country with the view of exchanging information relating to income tax or other taxes of a similar character imposed by the laws of that country, shall, notwithstanding anything to the contrary in this Act or any other written law, have effect in relation to income tax, and that notice shall, subject to the provisions of this section, have effect accordingly. 18. The Income Tax Act is amended in Part VIII, by Insertion of new inserting the following new section immediately before section 5IA in Cap.470. section 52- Returns, records, 51A.(1) For the purposes of this Act — etc. to be in official languages. (a) any return, record or other document required to be kept or produced shall be in either of the official languages; 154 No. 4 Finance 2012 (b) the unit of currency in any such return, record or other document shall be the Kenya shilling. (2) In subsection (1)(a), the expression "official languages" shall have the meaning assigned to it in Article 7 of the Constitution. Amendment of section 52B of 19. Section 52B of the Income Tax Act is amended by Cap.470. deleting the proviso to subsection (1) and replacing it with the following new proviso — "Provided that an employee who is employed by or renders service to one employer shall not be required to give a return under paragraph (a) — (i) if the employee had no income chargeable to tax for that year of income other than emoluments, and (ii) the tax payable in respect of those emoluments had been recovered by deduction under section 37." Amendment of 20. section 72C of Section 72C of the Income Tax Act is amended in Cap.470. subsection (2), by deleting the words "five hundred thousand shillings" appearing in paragraphs (a) and (b) of the proviso and substituting therefor the words "one million five hundred thousand shillings". Amendment of 21. section 132 of Section 132 of the Income Tax Act is amended by Cap.470. adding the following new subsection immediately after subsection (7) - 155 No. 4 2012 Finance (8) Without prejudice to any penalty that may be imposed under subsection (7), the Commissioner may, forthwith, register and issue a personal identification number to a person who fails to obtain such number as required by the Commissioner under subsection (2).
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