Kenyans and relevant stakeholders leaving and/or working in Romania are looking for a possible reprieve on double taxation after Cabinet Secretary for National Treasury and Economic Planning John Mbadi sought an agreement to eliminate it.
In a statement dated November 11, the CS invited Kenyans and all relevant stakeholders to air their comments on the proposed agreement on the elimination of the Double Taxation Agreement (DTA) between Kenya and Romania.
DTAs are international agreements between two countries to allocate taxing rights between the two countries that have negotiated the particular DTA.
The agreement aims to prevent the same income from being taxed twice – once in each country.
Kenyans and relevant stakeholders have until December 11, 2024, to air their comments on the agreement.
"As part of the process of engaging the public and Stakeholders on this important Agreement, we wish to invite comments from stakeholders," read part of Mbadi's statement.
This is after the Kenyan government wished to enter into an Agreement with Romania in a process spearheaded by the National Treasury.
Interested stakeholders and individuals must physically make their way to the National Treasury building to get the draft of this agreement.
"The draft agreement may be obtained from the National Treasury, 12th floor room 1234 all working days from 9 am to 4 pm," the CS directed.
The comments should be forwarded in writing to the CS and a soft copy to the National Treasury email by December 11 for them to be considered.
Double taxation usually occurs when income is taxed at both the corporate level and personal level; and in international trade or investment when the same income is taxed in two different countries.
If this agreement pushes through, businesses operating in both Kenya and Romania will benefit from not being taxed twice on the same income. This can lead to significant savings and make cross-border economic activities more attractive.
