FRINGE BENEFIT TAX AND DEEMED INTEREST RATE – KRA

KENYA REVENUE AUTHORITY TENDER MAY 2023 

Public Notice

FRINGE BENEFIT TAX AND DEEMED INTEREST RATE
FRINGE BENEFIT TAX
For the purposes of Section 12B of the Income Tax Act, the Market Interest
Rate is 10%. This rate shall be applicable for the three months of April,
May and June 2023.
DEEMED INTEREST RATE
For purposes of section 16(2)(ja) of the Income Tax Act , the prescribed
rate of interest is 10%. This rate is applicable for the months of April, May
and June 2023.
Withholding tax rate of 15% on the deemed interest shall be deducted and
paid to the Commissioner by the 20th day of the month following the month
of computation.