ADVOKS GLOBAL · KENYA
Stamp Duty Act
45. How consideration consisting of periodical payments to be charged
Edition: 2026-07-01 · In force
45. How consideration consisting of periodical payments to be charged
(1)Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period not exceeding twenty years, so that the total amount to be paid can be previously ascertained, the conveyance shall be charged in respect of that consideration with ad valorem duty on the total amount.(2)Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period exceeding twenty years or in perpetuity, or for any indefinite period not terminable with life, the conveyance shall be charged in respect of that consideration with ad valorem duty on the total amount which will or may according to the terms of sale be payable during the period of twenty years next after the day of the date of the instrument.(3)Where the consideration or part of the consideration for a conveyance on sale consists of money payable periodically during any life or lives, the conveyance shall be charged in respect of that consideration with ad valorem duty on the amount which will or may, according to the terms of sale, be payable during the period of twelve years next after the day of the date of the instrument.(4)Notwithstanding the foregoing provisions of this section, no conveyance on sale chargeable with ad valorem duty in respect of any periodical payments and containing also provision for securing the payments shall be charged with any duty in respect of that provision, and no separate instrument made in that case for securing repayment shall be charged with any higher duty than one hundred shillings.