Kenya will from next year start sharing taxpayer information automatically with at least 110 countries, marking the latest push in fighting cross-border tax evasion.
Disclosures by the African Development Bank (AfDB) show that Kenya has committed to making the first exchange of taxpayer information by the end of next year alongside Tunisia and Ukraine.
The move is seen as key to tackling tax evasion and inflows of dirty cash, boosting Kenya’s efforts of ramping up tax collections besides boosting the war on money laundering.
Automated sharing of information is part of the Global Forum on Transparency and Exchange of Information for Tax Purposes that started six years ago.
“Five more African countries are committed to implementing Automatic Exchange of Financial Account Information (AEOI) within the next three years. These are Uganda (2023), Kenya and Tunisia (2024) and Morocco and Rwanda (2025),” AfDB says in the disclosures.
John Mutua
