Write brief notes on Exempt interest income

      

Write brief notes on Exempt interest income

  

Answers


Wilfred
The following Interest incomes are exempted from Taxation
- Interest earned from a savings held in an account in the post bank
- Interest earned from tax reserves certificates issued by the Kenya government. Tax reserve certificates are issued by the government though the treasury as a form of borrowing by the government and also form of investment and saving to the bearer. It is treated as a savings in the sense that such monies will be used to pay subsequent tax on such amounts which is exempted from taxation.
- Any interest that is earned from outside Kenya
- The partly exempt interest of up to kshs. 300,000 from housing development bonds
- Interest on government stock (non-residents only)
- Interest on Nairobi city council stocks (non-residents only)
Wilfykil answered the question on February 26, 2019 at 05:50


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