Kenya: Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit
As per the Public Notice 12/01/2022 posted by the Kenya Revenue Authority, the rates remain at 7%.
Fringe benefit tax rate:
For the purposes of Section 12B of the ITA, the market interest rate is 7%. This rate shall be applicable for the months of January, February and March 2022.
Deemed interest rate:
For purposes of section 16(2)(ja) of the ITA, the prescribed rate of interest is 7%. This rate shall be applicable for the months of January, February and March 2022.
Low interest benefit rate:
For purposes of section 5(2A), the prescribed rate of interest is 7%. This rate shall be applicable for the months of January, February, March, April, May and June 2022.
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