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 INTEREST RATE

For purposes of section 16(5), the prescribed rate of interest is 6%. This is applicable for the months of October, November & December 2020.

Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner by 20th of the month following the month of computation.

For further clarification and facilitation, please call the Contact Centre on Tel: 020 4 999 999, 0711 099 999 or Email: callcentre@kra.go.ke www.kra.go.ke

Commissioner of Domestic Taxes