Biden wants KRA to spy on American companies
From www.businessdailyafrica.com
2022-07-20 03:00:00
Excerpt:
The United States is demanding that the Kenya Revenue Authority (KRA) spy on American firms and investors for money laundering and tax evasion as a condition for a trade deal between the two countries.
The Biden administration wants Nairobi to enforce an agreement signed in 2014 that requires Kenya to share information on tax evasion linked to US firms or investors involved in trade with America.
The tax agreement was signed in Washington on August 6, 2014, during the Barack Obama era.
The KRA will be expected to gather and share information such as income declarations, bank records and data on goods shipment and allow its employees to appear as witnesses in the US courts.
Kenya is also expected to seize and forfeit goods associated with tax evasion and money laundering breaches by Americans and investors with dealings in the US.