The value of Fringe Benefit is calculated to be the difference between the interest that would have been payable on the loan if calculated at the market interest rate and the actual interest paid. Fringe benefit is taxable at corporation rate of tax of 30% of the determined value of the benefit. Fringe benefit tax […]
Where an employee enjoys a benefit, advantage or facility of whatsoever nature in connection with employment or services rendered; the value of such benefit should be included in employee’s earnings and charged to tax. The minimum taxable aggregate value of a benefit, advantage or facility is Kshs. 3,000 per month or Kshs. 36,000 per annum. […]