President William Ruto's administration has signed a deal with Belgium to eliminate double taxation and tax evasion among citizens of both countries.
The agreement was signed on Tuesday, September 30, at the National Treasury offices in Nairobi, marking an important step in the deepening of bilateral economic and investment relations between the two nations.
Among those present during the formalisation of the deal are Treasury Cabinet Secretary John Mbadi and Belgium’s Ambassador to Kenya, Peter Maddens.
Speaking moments after signing the agreement, CS Mbadi pointed to the importance of eliminating double taxation, labelling it as a modern framework designed to provide tax predictability.
According to the CS, the agreement will help to improve tax fairness, enhance cross-border income, and eliminate tax evasion.
Mbadi reiterated that the agreement would not only establish a more transparent tax environment but also stimulate bilateral investment flows while further consolidating the enduring friendship between Kenya and Belgium.
"This signing builds on the momentum of the 2024 Kenya-Belgium Political Consultations in Brussels, during which both countries reaffirmed their commitment to broaden cooperation in trade and investment," Mbadi affirmed.
The CS went ahead to highlight Kenya’s economic resilience, with a nominal GDP of Ksh15 trillion ($121.3 billion) in 2024, supported by prudent macroeconomic management and a robust services sector.
He further cited Kenya’s strategic location as a regional hub and its skilled human capital as unmatched advantages for investors seeking entry into Sub-Saharan Africa.
On his part, Ambassador Maddens described the agreement as a strategic achievement that fills a critical gap in the diplomatic and economic architecture between the two nations.
The signing of the agreement comes just a week after the Kenyan government inked a similar deal with the Czech Republic for the total removal of double taxation.
In a statement on Tuesday, September 23, the Treasury confirmed the signing of the agreement between CS Mbadi and the Czech Republic Ambassador to Kenya, Nicol Adamcová.
Mbadi assured that the pact would be key in reinforcing the healthy diplomatic ties the two countries have shared over the years, in addition to empowering businesses in both nations.
