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Share Transfers

Share Transfers

Transfers of shares both Inter Vivos and Causa Mortis are subject to duty as per the Duty on Documents and Transfers Act. The relative forms and share valuations are usually prepared by an Accountant and should be submitted at the Capital Transfer Duty Department. Vetting is carried out to verify the correctness of the workings submitted.

If the company whose shares are being transferred owns property, the case is referred to an internal board to decide whether or not to accept the values of the property declared. If the values are not acceptable, the department’s architect is sent to establish the market value of the property. If a miscalculation is found or if the department finds that the value of the property declared is under declared, the same procedure, as in the case of Inter Vivos, is adopted.