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The Value Added Tax (Remission) (Investments) Regulations, 2004

Legal Notice 51 of 2004

This is the latest version of this Legal Notice.
The Value Added Tax (Remission) (Investments) Regulations, 2004
Citation
Legal Notice 51 of 2004
Primary work
Value Added Tax Act, 1989
Date
Language
English
Type
Legal Notice
Original enactment
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LAWS OF KENYA

VALUE ADDED TAX ACT, 1989

THE VALUE ADDED TAX (REMISSION) (INVESTMENTS) REGULATIONS, 2004

LEGAL NOTICE 51 OF 2004

  • Published in Kenya Gazette Vol. CVI—No. 55 on 18 June 2004
  • Commenced on 10 June 2004
  1. [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]

1. Citation

These Regulations may be cited as the Value Added Tax (Remission)(Investments) Regulations and shall come into operation on the 10th June, 2004.

2. Application for remission

(1)An application for remission of tax under section 23(3)(a) of the Act shall be made in writing to the Minister.
(2)The application referred to in paragraph (1) shall be submitted together with a detailed list of the goods in respect of which the application is made.
(3)The application referred to in paragraph (1) shall include the following for the investment referred to in section 23(3)(a) of the Act—
(a)the total value of the investment in Kenya shillings;
(b)a full description of the investment including, where applicable, the physical location of the investment;
(c)the personal identification number of the applicant;
(d)a report of a feasibility study of the investment with sufficiently detailed pro forma cash flow statement including the itemization of the cash flows for—
(i)all traded or tradable goods to be produced, undertaken or purchased; and
(ii)any financial obligations or commitments.

3. Minister may require further information, inspection

The Minister may require the applicant to—
(a)furnish such further information as the Minister may consider appropriate; and
(b)allow and facilitate the inspection of the goods to which the application relates.

4. Only one application per investment

(1)Only one application shall be made with respect to an investment except as provided in paragraph (2).
(2)A second application in respect of the same investment may be made if the applicant demonstrates to the satisfaction of the Minister that the additional application relates to a separate phase of the investment or an expansion thereof.

5. Remission not for certain goods

Remission shall not be granted in respect of stocks in trade, consumables, office furniture, typewriters, copying equipment, stationery, kitchenware, crockery, linen, draperies, carpets (in single pieces), safes and refrigerators.

6. Condition relating to inspection, etc

It is a condition of a remission that the person to whom a remission has been granted shall—
(a)allow and facilitate the inspection of the goods in respect of which the remission relates; and
(b)avail to the Commissioner the records of such goods for purposes of inspection and audit.

7. Further conditions to remission

The Minister may attach such further conditions to a remission as he considers necessary.

8. Revocation of remission

The Minister may revoke a remission if any condition set out in regulation 6 or attached under regulation 7 is breached.
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History of this document

31 December 2022 this version
18 June 2004
Read this version
10 June 2004
Commenced