Kenyan Income Tax Act

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The Ninth Schedule of the Income Tax Act sets out the income tax requirements to which a contractor in the upstream is subjected.[1]

According to this tax act, the basic rate of tax is 30 per cent.[2] The Ninth Schedule also contains detailed provisions governing capital allowances and deductions. There are additional provisions governing the recoverability of expenses from cost oil under the model contract. [3]

References

  1. Kenya Kaplan & Stratton”. Freshfields Bruckhaus Deringer, retrieved 20 October 2013.
  2. Kenya Kaplan & Stratton”. Freshfields Bruckhaus Deringer, retrieved 20 October 2013.
  3. Kenya Kaplan & Stratton”. Freshfields Bruckhaus Deringer, retrieved 20 October 2013.