KENYA: FRINGE BENEFIT TAX & DEEMED INTEREST RATE

KENYA: FRINGE BENEFIT TAX & DEEMED INTEREST RATE

FRINGE BENEFITS TAX 

For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 9%. This rate shall be applicable for the three months of October, November, and December 2022.

DEEMED INTEREST RATE

For purposes of section 16(2)(ja) of the Income Tax Act, the prescribed rate of interest is 9%. This rate shall be applicable for the three months of October, November, and December 2022.

LOW-INTEREST BENEFIT 

For purposes of section 5(2A), the prescribed rate of interest is 7%. This rate is applicable for the months of July, August, September, October, November, and December 2022.


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