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The Income Tax Act - Exemption

Legal Notice 2 of 2008

This is the version of this Legal Notice as it was from 11 January 2008 to 30 December 2022. Read the latest available version.
The Income Tax Act - Exemption
Citation
Legal Notice 2 of 2008
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 2 OF 2008

  • Published in Kenya Gazette Vol. CX—No. 4 on 11 January 2008
  • Commenced on 7 January 2008
IN EXERCISE of the powers conferred by section 13 (2) of the Income Tax Act, the Minister for Finance directs that the lump sum retirement benefits received by twenty three (23) the employees of the Kenya Broadcasting Corporation who retired with effect from 1st July, 2007 and 1st October, 2007, respectively, under the Voluntary Early Retirement Scheme approved by the Government on 4th May, 2006, shall be exempt from income tax under the Act:Provided that—
(a)the exemption shall not apply to other pension benefits paid to such employees;
(b)an employee who opts for voluntary early retirement shall not be eligible for re-employment with the Kenya Broadcasting Corporation, in any capacity or under any terms whatsoever before the expiry of three (3) years from the date of such retirement;
(c)the Kenya Broadcasting Corporation shall, in addition to complying with any directions that the Commissioner of Income Tax may give, furnish the Commissioner, in respect of every retiring employee, the name, the date of retirement from the Kenya Broadcasting Corporation, the amount paid and a copy of the letter to the employee confirming such retirement.
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History of this document

31 December 2022
Read this version
11 January 2008 this version
07 January 2008
Commenced