EYEY

Kenya High Court reaffirms the applicability of withholding tax on interest-free loans

|Tax Alerts, Information Reporting, Legis ...|Kenya
Kenya

  • The Appellant challenged the Tax Appeals Tribunal's decision that had set aside a withholding tax assessment on the basis that certain debts did not qualify as "loans" under the Income Tax Act.
  • The High Court held that the absence of a fixed charge, interest, discount or premium does not exclude the Respondent's debts from being classified as loans.
  • The Court held that withholding tax applies to any…

Continue Reading