Section 20

Collective Investment Schemes

(1)

Subject to conditions specified by the Minister under section 130-

• (a) a unit trust; or
• (b) a collective investment scheme set up by an employer for purposes of receiving monthly contributions from taxed emoluments of his employees and investing them primarily in shares traded on any securities exchange operating in Kenya,
• (c) a real estate investment trust Finance Act 2012 01 January 2012 
• (d) an investee company of a real estate investment trust. Finance Act, 2019 Effective 7th November 2019 

registered by the Commissioner, shall be exempted from income tax except for the payment of withholding tax on interest income and dividends as a resident person as specified in the Third Schedule to the extent that its unit holders or shareholders are not exempt persons under the First Schedule.

(2)

All distributions of income, and all payments for redemption units or sale of shares received by unit holders or shareholders shall be deemed to have been already tax paid.

Previous        Next