Kenya and Belgium have signed an Agreement for the Avoidance of Double Taxation (DTA), a move expected to deepen trade and investment ties between the two nations.
In a statement released on Tuesday, September 30, the National Treasury announced the signing in a ceremony that was held at the National Treasury Building in Nairobi.
“Kenya and Belgium today signed an Agreement for the Avoidance of Double Taxation at the National Treasury Building, marking an important step in the deepening of bilateral economic and investment relations between the two nations,” the Treasury said.
The agreement was signed by the Cabinet Secretary for the National Treasury, Hon. FCPA John Mbadi, on behalf of Kenya, and by Belgium’s Ambassador to Kenya, H.E. Peter Maddens, on behalf of the Kingdom of Belgium.
CS Mbadi said the DTA will provide a clear and predictable framework for the taxation of cross-border income, eliminating risks of double taxation and reducing opportunities for tax evasion.
“This Agreement will establish a more transparent tax environment and stimulate bilateral investment flows while further strengthening the friendship between Kenya and Belgium,” he said.
The Treasury noted that the signing builds on the momentum from the 2024 Kenya-Belgium Political Consultations in Brussels, where the two countries reaffirmed their commitment to enhancing cooperation in trade and investment.
Mbadi highlighted Kenya’s strong economic performance, pointing to a nominal GDP of USD 121.3 billion (Ksh15.9 trillion) in 2024.
He credited this growth to prudent macroeconomic policies, a diversified economy, and a vibrant services sector.
“Kenya’s strategic location as a regional hub and its skilled human capital provide unmatched advantages for investors seeking opportunities in Sub-Saharan Africa,” he said.
Ambassador Maddens hailed the agreement as a significant milestone in the economic relationship between the two countries.
“This is a strategic achievement that fills a critical gap in the diplomatic and economic framework between Kenya and Belgium,” he said.
Adding;
“Belgium sees Kenya’s flourishing economy as a leading investment destination in Africa, with exciting opportunities in horticulture, manufacturing, renewable energy, and ICT.”
The DTA is expected to boost investor confidence, foster stronger economic cooperation, and mark a new chapter in Kenya-Belgium relations.
