This archive report was first published on 28 November 2019.
On November 27, 2019, Kenya took a significant step in strengthening its tax system by signing the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) Convention in Paris.
Kenya's ambassador to France, Judi Wakhungu, signed the convention at the 10th Anniversary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
According to Wakhungu, Kenya's signing of the convention demonstrates the country's commitment to preventing BEPS and implementing the BEPS minimum standards.
"Kenya remains committed to the work of the Inclusive Framework and reaffirms her commitment to implementing the BEPS minimum standards," Wakhungu said.
The convention, the first of its kind, aims to end tax avoidance among multinational firms by promoting international collaboration and cooperation.
With over 130 countries participating in the OECD/G20 Inclusive Framework on BEPS, Kenya's signing of the convention marks a significant milestone in the fight against tax evasion.
Kenya Revenue Authority Commissioner-General Githii Mburu noted that the signing of the convention would put an end to treaty shopping tendencies, which have been a major concern for many countries.
