The Finance Bill for 2015-16 was passed as the Finance Act on 15 September 2015 in Kenya.
The following changes were made to the main Budget measures prior to enactment:
- The corporate tax rate for a special economic zone enterprise, developer or operator is 10% for the first 10 years from the date of first operation, and thereafter 15% for the next 10 years.
- A withholding tax rate of 10% applies to all payments other than dividends made by a special economic zone enterprise, developer or operator to non-residents; and
- Rent for the use or occupation of immovable property paid to resident persons is subject to withholding tax at the rate of 12%.
