01 Dec 2017
By Lee Mwiti, Standard Media
The Kenya Revenue Authority has announced tough new measures to counter multinationals engaging in tax evasion.
Commissioner-General John Njiraini said on Wednesday that KRA would push for the signing of more tax information-sharing agreements with revenue bodies from other jurisdictions to get a clearer picture of international firms’ financial position.
“We need to know what financial information these multinationals publish about their subsidiaries in other countries and what they publish here so that we can understand their true financial position.
This can be done through tax agreements with other countries,” said Mr Njiraini at this year’s KRA Annual Tax Summit in Nairobi.
He said the taxman had also increased staff at its International Tax Office from 16 to 40 in a bid to counter multi-nationals from engaging in transfer pricing and lowering their taxable income.
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