Kenya and Italy sign joint declaration on double taxation

KENYA and Italy have agreed to avoid double taxation to promote trade and investments between the two countries.

The National Treasury said the agreement was was signed on Thursday during a meeting between the Cabinet secretary Henry Rotich and the Minister for Economy and Finances of the Italian Republic, Pier Carlo Padoan.

Rotich said the double taxation convention between the two countries was first signed in 1979, but had not been ratified by Kenya following some outstanding issues that were contained in the protocol.

“I am confident that the signing and eventual implementation of the joint declaration will facilitate the ratification and bring into force the convention on avoidance of double taxation and encourage greater flow of investments and trade for the benefit of the two countries for many years to come,” he said.