Section 15, The Finance Act, 2016

Part 1 of the First Schedule of the Income Tax Act, 2000 isamended by the repeal and replacement of the annual taxable threshold and corresponding rate with the following- If chargeable Income Tax Less or equal to 6,000,000 Nil > Le 6,000,000 but not > Le 12,000,000 15% > Le 12,000,000 but not >Le18,000,000 20% >Le 18,000,000 but not > Le 24,000,000 30% Over Le 24,000,000 35%