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What is a wealth tax? A wealth tax is imposed on the value of some or all of a taxpayers assets, such as stocks, real estate, and businesses. At the federal level, the United States does not have a wealth tax, and many other countries have repealed wealth taxes because of administrative challenges.
A Source of Wealth declaration is a document that provides companies with a description of the customers assets and the financial activities which led to acquiring them.
To declare your wealth, you will need to access the TSC Teachers online portal, at . tsc.go.ke. Login or sign up, enter your general information and bio data. Then move to Declaring your Income, Assets, and liabilities.
Wealth declaration is intended as a way for citizens to ensure leaders do not abuse their power for personal gain, thus anchoring ethics and integrity.
Taxpayers may file Return of Total Income / Statement of Final Taxation Wealth Statement through the following modes: Electronically at FBR Portal () which is mandatory for all Companies, AOPs, Sales Tax Registered Persons, Refund Claimants, Individuals having
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One of the following: Certified investment/savings certificates, contract notes or cash- in statements. Bank statement clearly showing receipt of funds and investment company name. Signed letter detailing funds from a regulated accountant/solicitor.
Asset declaration systems have increasingly become a multipurpose tool aimed at preventing conflicts of interest, detecting unjustified assets and building broader integrity of public service. Asset declarations, therefore, combines prevention and enforcement purposes.
The Source of Wealth Declaration gives a description of the customers assets and of the economic activity which has generated the customers assets i.e. the source of wealth.

tsc wealth declaration