Page 6 - பாரிஸ் அடிப்படையிலானது ஆர்கநைஸேஶந் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Kenya fails to back Biden s global taxation plan Wednesday July 21 2021 US President Joe Biden speaks during climate change virtual summit from the East Room of the White House campus April 22, 2021, in Washington, DC. PHOTO | AFP By BRIAN NGUGI Summary Kenya has withheld backing for US President Joe Biden administration’s push for a global minimum rate of tax on multinational companies. The Paris-based Organisation for Economic Cooperation and Development (OECD), which hosted the talks on the overhaul of taxation rules, revealed that Kenya was missing from the list of 132 countries that have backed the agreement. Kenya is said to be especially uncomfortable with clauses in the agreement that will force it to drop the digital services tax of 1.5 percent of sales by US tech giants such as Google, Facebook and Amazon.

United statesNairobi areaSouth africaFred omondiJoe bidenUs treasury departmentKenya revenue authorityOrganisation for economic cooperationDigital servicesPromotion authorityUs congressParis based organisationEconomic cooperationDeloitte east africa taxDigital services taxesAfrica growth