Kenya is strengthening its actions to prevent tax evasion and profit transfer. It has officially ratified the multilateral agreement of the Organization for Economic Cooperation and Development (OECD) to implement measures related to tax treaties. This information comes from a note from the organization published on Wednesday, January 8, 2025

Kenya deposited its instrument of ratification of the Multilateral Convention for the Implementation of Measures Relating to Tax Treaties to Prevent Base Erosion and Profit Transfer (the BEPS Convention) (the BEPS Convention), underlining its firm commitment to prevent the abuse of tax treaties and the transfer of profits (the BEPS Convention), underlining its firm commitment to prevent the abuse of tax treaties and the transfer of profits (the BEPS Convention). ; erosion of the tax base and the transfer of profits by multinational companies. The BEPS Convention will come into force on 1 May 2025 for Kenya

To date, all 88 jurisdictions have ratified, accepted, or approved the BEPS Convention, resulting in changes to over 1,600 tax treaties. Approximately 350 additional conventions will be effectively amended once the BEPS Convention has been ratified by all Signatories

The BEPS Convention, negotiated by more than 100 countries and jurisdictions under the mandate conferred by finance ministers and central bank governors of G20 countries, is one of the strongest results of the OECD/G20 BEPS project.