Kenyan legislation
Exemptions under Section 14(2)
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[L.N. 148/1977]The Cabinet Secretary responsible for Finance and Planning hereby provides that the income of the Federal Home Loan Bank of New York, (a Corporation incorporated in the United States of America), in so far as such income represents interest accrued in or derived from Kenya in respect of a loan of ten million United States dollars made by the Federal Home Loan Bank of New York to the City Council of Nairobi (a municipal corporate entity established under the laws of Kenya), under the provisions of a document described as a Loan Agreement dated 3rd June, 1975, made between the City Council of Nairobi and the Federal Home Loan Bank of New York shall be exempt from tax.[L.N 192/1987]The Cabinet Secretary responsible for Finance exempts all payments to be made under the agreement referred to in the Schedule hereto from withholding tax.Legal Notice Nos. 240 of 1983 and 29 of 1987 are revoked.
Source: Kenya Law · Imported 4 October 2026