Extractive industry
September 5, 2019
Article
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% |
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