TAXATION OF EXTRACTIVE INDUSTRIES IN KENYA
(REF 9th SCHEDULE Income tax act CAP 470)
MINING & PETROLEUM OPERATIONS
TAX INCOME STATEMENT- FORMAT
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| XXX | |
| Less expenses | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| (XXX) | |
| Taxable Income | (XXX) |
Key: Terms used in petroleum operations are highlighted in green.
Subcontractors
Payment of service fee to non-resident subcontractors by licensees and contractors is subject to withholding tax at 5.625% which is final.
Deduction of withholding tax by contractor
| Dividends | 10% |
| Interest | 15% |
| Royalty of natural resource income | 20% |
| Management and training fees | 12.5% |