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The Income Tax Act — Exemption

Legal Notice 155 of 1997

This is the version of this Legal Notice as it was from 29 August 1997 to 30 December 2022. Read the latest available version.
The Income Tax Act — Exemption
Citation
Legal Notice 155 of 1997
Primary work
Income Tax Act
Date
Language
English
Type
Legal Notice
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LAWS OF KENYA

INCOME TAX ACT

THE INCOME TAX ACT — EXEMPTION

LEGAL NOTICE 155 OF 1997

  • Published in Kenya Gazette Vol. XCIX—No. 44 on 29 August 1997
  • Commenced on 29 August 1997
IN EXERCISE of the powers conferred by section 13 (2) of the Income Tax Act, the Minister for Finance exempts from income tax, the lump sum payments received by employees of the Kenya Power and Lighting Company Limited who opt for voluntary early retirement prior to 28th February, 1998, under the Sector Reform Programme approved by the Government on 27th January, 1995, subject to the following conditions:
(a)An employee who opts for early retirement shall not be eligible for re-employment with the Kenya Power and Lighting Company in any capacity or under any terms whatsoever before the expiry of three (3) years from the date on which he left service under the scheme.
(b)The Kenya Power and Lighting Company Limited shall, in addition to complying with any procedures that the Commissioner of Income Tax may require, furnish the Commissioner in respect of each retiring employee, with the name, date of retirement from the service of the Kenya Power and Lighting Company, the amount paid and a copy of the agreement with the employee duly signed by the employee.
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History of this document

31 December 2022
Read this version
29 August 1997 this version
Commenced