The Income Tax Act - Exemption

Legal Notice 115 of 1989

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The Income Tax Act - Exemption
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LAWS OF KENYA

INCOME TAX ACT

THE INCOME TAX ACT - EXEMPTION

LEGAL NOTICE 115 OF 1989

  • Published in Kenya Gazette Vol. XCI—No. 13 on 31 March 1989
  • Commenced on 31 March 1989
  1. [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]
The Cabinet Secretary for Finance provides that all payments made under the credit agreement specified in the First Schedule and under the loan agreement specified in the Second Schedule shall be exempt from tax.

FIRST SCHEDULE

A credit agreement dated 7th March, 1989, for French Francs two hundred and eighty-four million and two thousand (FRF 284,002,000) between the Government of the Republic of Kenya as the borrower and a consortium of French banks as the lenders led by the following:Banque Paribas, acting as lead manager whose registered office is at rue d'Antin, Paris 2e, France.Societe Generale, acting as co-lead manager whose registered office is at 29 Boulevard Haussmann, 75454 Paris, Cedex 09, France.

SECOND SCHEDULE

A loan agreement dated 7th March, 1989, for French Francs sixty-nine million, one hundred nineteen thousand and fifty-one (FRF 69,119,051), between the Government of the Republic of Kenya as the borrower and a syndicate of the following banks as lenders:Banque Paribas, as lead manager of the lenders whose registered office is in 75002 Paris France, 3 rue d'Antin,Societe Generale, as co-lead manager of the lenders whose registered office is 75009 France, 29 Boulevard Haussmann,Credit Lyonnais, whose registered office is 75002 Paris, France, 19 Boulevard des Italiens,Banque Francaise du Commerce Exterieur, whose registered office is in 75009 Paris, France, 21 Boulevard Haussmann,Banque Worms, whose registered office is in 75009 Paris, France, 45 Boulevard Haussmann,Banque Indosuez, whose registered office is in 75008 Paris, France, 96 Boulevard Haussmann,Credit Industriel et Commercial de Paris, whose registered office is in 75009 Paris, France, 66 rue de la Victoire,Banque Nationale de Paris, whose registered office is in 75009 Paris, France, 16 Boulevard des Italiens,Banque Vernes et Commerciale de Paris, whose registered office is in 75008 Paris, France, 52 avenue Hoche.
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31 December 2022 this version