PHOTO CREDITS: People Daily
By
Steve Umidha
Tax Justice Network Africa (TJNA) and the East African Tax and Governance Network (EATGN) will move to Parliament to have the State rescind tax treaties it signed with Singapore and Barbados, barely a month after effectively petitioning the matter against the National Treasury.
On Monday, the two civil groups said there was need to evaluate both tax treaties Kenya signed with the two countries as they are likely to negatively affect Kenyan tax law.
Singapore and Barbados are on the verge of ratifying double tax treaties with Kenya, a decision that continue to face opposition from various quarters.
Revenue losses
Such a decision, the two groups added, could expose the country into future revenue losses if it is to be ratified in its current form.
The two countries are considered by anti-corruption and global anti-money laundering agencies as some of the murkiest financial centres in the world besides Mauritius and other well-known tax havens.
