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KRA has published the latest rates for Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit as below
For Fringe benefit calculation, the market interest rates for Jan, Feb and March 2025 is at 13%
For deemed interest, the prescribed interest rate for Jan, Feb and March 2025 is 13%. Therefore the WHT of 15% on the deemed interest shall be deducted and paid to the Commissioner within 5 working days.
For the Low Interest Benefit for the months of Jan-June 2025,the prescribed rate of interest is 14%.

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In Case you missed it
NATIONAL TREASURY INITIATES TRANSITION TO ACCRUAL
BASIS ACCOUNTING (3rd October 2024)
Kenya’s National Treasury is shifting from cash-basis to accrual-basis accounting, aligning with International Public Sector Accounting Standards (IPSAS).
The transition will take place over three years, starting from 1st July 2024, with the first accrual-based financial statements expected by 30th June 2025.
A committee, led by the Principal Secretary of the National Treasury, will oversee the transition process2.
This change aims to improve financial transparency and accountability, though it will require significant adjustments in financial processes and systems.
more at

Press Releases – The National Treasury Press Releases 2024 Press Releases2023 Press Releases2022 Press Releases2021 Press Releases2020 Press Releases2019 Press Releases2018 Press ReleasesOld Press releases2024 Press Releases Press Release – Cash Accrual National Treasury initiates transition to Accrual Basis Accounting Press Release .....

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Attention business owners! Starting March 31st, 2024, non-compliance with TIMS or eTIMS generated supplier invoices could increase your taxable income. Don't risk it! Leslet Consulting offers expert assistance to ensure your compliance and safeguard your financial interests.
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