Kenya: Exemption from insurance premium levies
Exemption for five years—effective 1 December 2022
Exemption for five years—effective 1 December 2022
The Cabinet Secretary for the National Treasury and Economic Planning through Legal Notice No. 224/2022 exempted insurers transacting in permanent health, annuities and all pension classes of life insurance from the Insurance Premium Levy (IPL) for a period of five years—effective 1 December 2022.
The 1% IPL is provided for under Section 197A of the Insurance Act and previously applied to every registered insurance business in Kenya.
Read a February 2023 report prepared by the KPMG member firm in Kenya
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