(PHOTO CREDITS: Courtesy SMART INVESTOR)
Kenya and other African countries have been urged to monitor and re-evaluate current tax treaties with other nations to seal gaping holes that could facilitate flow of dirty money.
These countries have been challenged to be very keen cost benefits of such arrangement and re-look the conditions binding nations to ascertain their implications on tax revenue.
“Some of these bilateral treaties can be very harmful. Senegal cancelled bilateral ties with Mauritius, a major conduit of illicit financial flow after realising it was losing tax revenue. Other African countries can emulate the same,” said African Center for Tax and Governance, Executive Director, Mustapha Ndajiwo.
