Singapore and Kenya Sign New Double Taxation Agreement

Singapore signed a new double taxation agreement with Kenya, the island country’s tax authority announced Tuesday.

The agreement replaces one signed in 2018 and aims to lower barriers to cross-border investment and boost trade between the countries.

• The agreement includes a 10% withholding tax rate on interest, royalties, and technical fees and an 8% withholding tax rate on dividends.
• Singapore and Kenya entered into a bilateral investment treaty in August 2023 to give investors greater confidence to take up business opportunities in either country.
• The tax agreement with Kenya follows an updated agreement Singapore signed with Rwanda on ...