Fringe Benefit Tax (FB) , Deemed Interest Rate And Low Interest Benefit

(Public Notices) 19/01/2021

FRINGE BENEFIT TAX For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%.  This rate shall be applicable for the three months of January, February and March 2021.   ...

December Revenue Performance a Reflection of Kenya's Economic Recovery Prospect

(Press Release) 18/01/2021

... the challenging economic environment that persisted to the tail end of the year, KRA posted improved revenue performance rate of 101.3% for December 2020. This was the first positive and above target collection ...

Fringe Benefit Tax, Deemed Interest Rate

(Public Notices) 28/10/2020

FRINGE BENEFIT TAX For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 6%. This rate shall be applicable for the three months of October, November & December 2020. DEEMED ...

Taxation of Not-for Profit Organisations

(Blog) 26/10/2020

Not-for-Profit Organisations (NPOs) are organisations that do not operate for profit or personal gain. NPOs are mostly established for purposes of charitable activities or research in the areas such ...

Withholding Tax on Rental Income

(Blog) 26/10/2020

... and i-tax generated notification. Thereafter, the necessary capacity building for the agents is done so as to facilitate compliance. KRA had previously prioritised private institutions with high compliance ...

ANNUAL REVENUE PERFORMANCE FY 2019/2020

(Press Release) 20/08/2020

... 1.607 Trillion collected, compared to Kshs. 1.580 Trillion collected in FY 2018/19. This represents a performance rate of 97.9% and revenue growth of 1.7% compared to last Financial Year. The performance ...

Fringe Benefit Tax, Deemed Interest Rate & Low interest Rate

(Public Notices) 15/07/2020

FRINGE BENEFIT TAX For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%. This rate shall be applicable for the three months of July, August and September 2020. DEEMED ...

KRA wins case to collect Withholding Tax amounting Ksh.33.5 Million taxes  

(Press Release) 27/04/2020

... also found that that interest and penalties were chargeable  on the Withholding Tax subject to the applicable rate under the law for the tax period 2000- 2005. The Court of Appeal held that the Learned ...

Fringe Benefit Tax and Deemed Interest Rate

(Public Notices) 24/04/2020

Fringe Benefit Tax 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. April, May and June 2020. Deemed Interest ...

Fringe Benefit Tax (FBT), Deemed Interest Rate and Low Interest Benefit

(Public Notices) 24/01/2020

FRINGE BENEFIT TAX For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%. This rate shall be applicable for the three months of January, February and March 2020. DEEMED ...

JOINT COMMUNIQUE - 5th KEPSA-KRA Tax Round Table forum

(Press Release) 22/11/2019

... leaders and stakeholders’ drawn from the private sector to deliberate on the prevailing tax policy and related concerns. The 5th KEPSA-KRA Tax Round Table forum also provided a platform for KRA to update ...

Withholding Taxes on Royalties

(Public Notices) 06/11/2019

... or scientific equipment or experience, and gains derived from the sale or exchange of any right or property giving rise to that royalty; The withholding tax rate is 5% for residents and 20% for non-residents. ...

Fringe Benefit Tax (FBT) and Deemed Interest Rate

(Public Notices) 25/10/2019

Fringe Benefit Tax For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 6%. This rate shall be applicable for the three months of October, November and December 2019. Deemed ...

Fringe Benefit Tax (FBT) Deemed Interest Rate and Low Interest Benefit

(Public Notices) 21/07/2019

Fringe Benefit Tax For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%. This rate shall be applicable for the three months of July, August and September 2019.   Deemed ...

KRA Allowed to Collect Withholding Taxes From Sportpesa

(Press Release) 27/05/2019

... Commercial Courts Chief Magistrate, Peter Gesora, allowing KRA to collect withholding taxes on winnings from betting games on the Sportpesa platform among others, that have been failing to withhold tax ...

Magistrates Court Order Frustrate KRA’s Bid to Collect Taxes from Sports Betting Winners

(Press Release) 03/05/2019

... order issued by a magistrate’s court.  The orders issued by Senior Resident Magistrate D.M. Kivuti sitting at the Milimani Commercial Courts have stopped the operations of crucial Income Tax Act sections ...

Performance Review & Prospects for Financial Year 2017/2018

(News) 12/02/2018

... and improved business climate. For H2, the target is to raise Sh 798.84 billion, as part of the drive to generate resources to fund the ambitious Big 4 Agenda announced by His Excellency President Uhuru ...

KRA Records 11.1% Growth in Revenue Collection

(Press Release) 08/07/2024

... the previous financial year.  This translates to a performance rate of 95.5% against the target. The year under review was characterized by multiple economic shocks that included depreciation of the ...

HIGHLIGHTS OF THE FINANCE ACT 2023

(Highlights of the Finance Act 2023) 08/08/2023

... duties have been excluded from taxation as gains from employment where such amounts are based on the standard mileage rate approved by the Automobile Association of Kenya. Club entrance and subscription ...

Betting Sector Records 30% Revenue Growth as KRA Interlinks Firms to Tax System

(Press Release) 18/07/2023

... is attributed to the integration of betting companies into the KRA tax system. So far, KRA has integrated 36 companies, which contributed to the revenue growth in the sector. KRA has commenced the integration ...