KENYA REVENUE AUTHORITY TENDER NOVEMBER 2023 

PUBLIC NOTICE

Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit

FRINGE BENEFIT TAX
For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 13%. This
rate shall be applicable for the three months of October, November and December 2023.
DEEMED INTEREST RATE
For purposes of section 16(2)(ja) of the Income Tax Act , the prescribed rate of interest is 13%.
This rate is applicable for the months of October, November and December 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.
LOW INTEREST BENEFIT
For purposes of section 5(2A), the prescribed rate of interest is 10%. This rate is applicable for
the months of July, August, September, October, November and December 2023.

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