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The Income Tax Act - Exemption

Legal Notice 47 of 2010

This is the latest version of this Legal Notice.
The Income Tax Act - Exemption
Citation
Legal Notice 47 of 2010
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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 47 OF 2010

  • Published in Kenya Gazette Vol. CXII—No. 40 on 23 April 2010
  • Commenced on 16 April 2010
  1. [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]
The Cabinet Secretary responsible for Finance directs that the lump sum retirement benefits received by the three hundred employees of the Kenya Post Office Savings Bank who retired under the Voluntary Early Retirement Scheme approved by the Government of Kenya on 17th June, 2008, of whom two hundred and ninety-two left the service with effect from 31st January, 2010, four from 5th February, 2010 and another four from 26th February, 2010, shall be exempt from the provisions of the Act:Provided that—
(a)the exemption shall not apply to other pension benefits paid to the employees;
(b)an employee who has been retrenched shall not be eligible for re-employment with the Kenya Post Office Savings Bank in any capacity or under any terms whatsoever before the expiry of three years from the date of retrenchment; and
(c)the Kenya Post Office Savings Bank shall, in addition to complying with any conditions that the Commissioner of Income Tax may impose, furnish the Commissioner, in respect of every employee being retrenched, with the name, date of retrenchment from the Kenya Post Office Savings Bank, the amount paid and a copy of the letter to the employee confirming the retrenchment.
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History of this document

31 December 2022 this version
23 April 2010
Read this version
16 April 2010
Commenced