Kenya to miss out on billions in 'secret' tax treaty with China

Construction works on a section of the Nairobi-Naivasha Standard Gauge Railway at Ngong, Kajiado County in September 2018. [Peterson Githaiga, Standard]

Withholding tax on dividends paid to Chinese shareholders in companies operating in Kenya will now be capped at five per cent under a new tax deal between the two countries.

This is three times lower than the rate applicable to firms from India and South Africa.