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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.
The clause is contained in a pact on avoidance of double taxation between Nairobi and Beijing that could hurt Kenya's ability to collect potential taxes from Chinese corporations operating in the country, tax experts have warned.
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