The Kenya Revenue Authority has issued a notice on the market interest rate for fringe benefit tax purposes and the deemed interest rate for certain non-resident loans for the months of January, February, and March 2024, which has been increased to 15% from the 13% rate for the previous three months. The notice also provides the prescribed interest rate for the low interest (loan) benefit, which has been increased to 14% for the period January to June 2024.
Fringe benefit tax is payable by …