UAE, Kenya sign pact on avoiding double taxation

November 23rd, 2011 - 12:29 am ICT by IANS  

Abu Dhabi, Nov 22 (IANS/WAM) The UAE and Kenya have signed an agreement on avoiding double taxation.

The agreement was signed by UAE Minister of State for Financial Affairs Obaid Humaid Al-Tayer and Kenyan Deputy Prime Minister and Minister of Finance Uhuru Kenyatta.

UAE’s national carriers, including Emirates Airline, Etihad Airways and Air Arabia, will be exempted from taxes in Kenya, according to the agreement. Students and staff members of the airlines are also exempted from taxes.

Tax on dividends of the private sector were reduced by Kenya from 20 percent to 5 percent. The agreement also provides for exchange of data, avoidance of discrimination on tax and amicable resolution of conflicts.

–IANS/WAM
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