The fringe benefits tax is a levy imposed on staff receiving extra perks, such as cheap loans, in addition to their wages.
KRA has raised the fringe benefits tax to eight per cent for the next three months, until September, on account of the prevailing high market interest rates—the first such raise in more than a year.
Taxable employment income in Kenya is all payments made by an employer to an employee, including salaries, wages, bonuses and fringe benefits received or enjoyed during employment.
Employees entitled to benefits might suffer a setback after the Kenya Revenue Authority (KRA) raised the tax charged on employers granting such facilities.
The fringe benefits tax is a levy imposed on staff receiving extra perks, such as cheap loans, in addition to their wages.
