US President Joe Biden demands the Kenya Revenue Authority (KRA) to spy the American firms for money laundering and tax evasion. This is a decision to make it possible for the two countries to trade for mutual benefit.
There has been an agreement signed in the Washington in 2014 when Barack Obama was the United States president that the two countries want to bring into action.
In the US, the KRA has been given permission to gather information of bank records, income declarations and goods shipment.
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Kenya Revenue Authority is now expected to report to the US government on goods linked to tax evasion and money laundering by the Americans. Despite the mandate that Kenya was given in the 2014 agreement, Kenya downed in fear of the interference with the huge American firms and investors. This was because the Obama Successor Trump did encourage the agreement. He rather turned it down.
“The legal framework for the exchange of information and evidence to assist countries in the enforcement of customs laws, including duty evasion, trafficking, proliferation, money laundering, and terrorism-related activities. Upon request, a Customs Administration shall exercise special surveillance of persons known to the requesting contracting party to have committed an offence or suspected of doing so, particularly those moving into and out of its territory” says the agreement.
Joe Biden on the other hand wants to raise high taxes for the firms. This will be achieve when the Kenya Revenue Authority alerts the US government the firms that under-declare tax.
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