Corporate News
Experts see six-month delay in common market benefits
East African Community Health Culture and sports officer Margaret Wamoto (left) and her Education and Science counterpart Judy Njeru address the media in Nairobi ahead of the signing of the Customs Union in Arusha next week. Photo/FREDRICK ONYANGO
Posted Thursday, November 12 2009 at 00:00
Withholding tax
Private sector firms – the main thrust behind the DTA - want member states to stop levying income and other forms of taxes on their branches once the country of establishment has levied similar taxes.
Finance ministers have however only adopted fixed rates for withholding tax at five per cent on dividends, and 10 per cent on interest, royalties, management and professional fees under the DTA and agreed that Partner States should not negotiate with Third Parties rates lower than those in the EAC DTA.
RSS