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Finance Act 2016

Sponsoring Sports

For the purpose of ascertaining the total income of a person for a year of income there shall be deducted all expenditure incurred in that year of income which is expenditure wholly and exclusively incurred by him in the production of that income. Not all expenditure incurred by a person is used for business such as donations and personal expenditure. The Income Tax Act is now amended and allows expenditure in relation to expenditure incurred in that year of income by a person sponsoring sports, with the prior approval of the Cabinet Secretary responsible for sports.

New tax Bands effective January 2016

Rate in each

Individual rates of Tax

shilling

 

 

 

On the first Shs.134,164

 

10%

On the next Shs.126,403

 

15%

On the next Shs.126,403

 

20%

On the next Shs.126,403

 

25%

On all income over Shs.513,373

 

30%

 

 

 

Figure 1