Kenya and Belgium have signed a historic double taxation agreement to close off double taxation and tax evasion, a move that officials say will clear the way for further investment between the two countries.
The deal was sealed on Tuesday, September 30, at the National Treasury in Nairobi when Treasury Cabinet Secretary John Mbadi and Ambassador of Belgium to Kenya Peter Maddens signed the deal to seal the treaty.
Mbadi described the pact as a “contemporary framework” that will give firms tax certainty, improve equity, and increase infra-infrastructure income flows across borders. He continued that apart from issues relating to revenues, the deal is set to boost bilateral investment as well as cement relations that have grown steadily between Nairobi and Brussels.
This signing is a continuation of the momentum created after the 2024 Kenya-Belgium Political Consultations in Brussels during which the two countries reaffirmed their commitment to increase trade and investment cooperation,” said the CS.
Kenya, whose economy was worth Ksh15 trillion ($121.3 billion) in the previous year, has been a longtime gateway to investors targeting Sub-Saharan Africa. Mbadi cited the country’s location and available human capital as strong points that keep regional and international partners interested.
Ambassador Maddens greeted the deal as a strategic move that deepens diplomatic as well as economic ties between the two countries.
The Belgium deal comes hot on the heels of Treasury inking a similar agreement with the Czech Republic, underscoring Kenya’s push to enhance cross-border linkages and pave the way for business across the borders.
