Singapore and Kenya signed a new Double Taxation Agreement

  • October 04, 2024

Singapore and Kenya signed a new double taxation agreement

On 23 September, 2024, Singapore and Kenya signed a new Double Taxation Agreement (DTA) to replace the previous one from June 12, 2018. The new DTA aims to eliminate double taxation and prevent tax evasion and avoidance between the two countries.”

The DTA was signed in New York by Singapore’s Foreign Minister Dr. Vivian Balakrishnan and Kenya’s Prime Cabinet Secretary and Foreign Minister Dr. Musalia Mudavadi.

The DTA outlines the tax treatment of income from cross-border business activities between Singapore and Kenya, preventing double taxation. This will encourage investment and trade between the two countries. Key provisions of the DTA are detailed in the Annex

The full text of the DTA is available on the Singapore Inland Revenue Authority’s website. The agreement will take effect after ratification by both Singapore and Kenya.

MINISTRY OF FINANCE

24 September 2024

Annex: Summary of key terms in the Singapore-Kenya DTA 

Article in the DTA Key term in the DTA
Article 5, Permanent Establishment

The DTA establishes the following minimum periods during which activities in one contracting state could trigger a tax liability in the other:

  • Construction: 6 months
  • Services: 183 days within any 12-month period
  • Natural Resources Exploration and Exploitation: 91 days within any 12-month period
  • Natural Resources Installation or Structure: 91 days within any 12-month period
Article 10, Dividends
  • 8% withholding tax rate  
  • Government exemption
Article 11, Interest
  • 10% withholding tax rate  
  • Government exemption
Article 12, Royalties
  • 10% withholding tax rate  
Article 13, Technical Fees
  • 10% withholding tax rate  

If your company needs help filing taxes for the year 2024, or requires assistance with Singapore incorporation, economy, banking, etc., feel free to call/WhatsApp us at +65 90612851 or email us at aceglobalacct@gmail.com. Alternatively, you may leave us a reply using our contact form below.

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