FRINGE BENEFIT TAX

FRINGE BENEFIT TAX

Kenya Revenue Authority would like to inform taxpayers that for the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%.  This rate will be applicable for three months i.e. July, August and September 2007.

LOW INTEREST BENEFIT

For purposes of Section 5[2A] of the Income Tax Act, the prescribed interest rate for the period of six months [July – December 2007] will be 6%.

Commissioner Domestic Taxes Department