Kenya – Fringe Benefit Tax and Low Interest Benefit 2024
The
Commissioner for Domestic Taxes has issued a new Public Notice
regarding Fringe Benefit Tax and the Low Interest Benefit.
Fringe Benefit Tax
For the purposes of Section 12B of the Income Tax
Act, the Market Interest Rate is 16%. This rate shall be applicable for the
three months of July, August and September 2024.
Low Interest Benefit
For purposes of section 5(2A) of the Income Tax
Act, the prescribed rate of interest is 16%. This rate is applicable for the
months of July, August, September, October, November and December 2024.
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