On 9 September 2022, Kenya signed the multilateral competent authority agreement on the exchange of Country-by-Country Reports (CbC MCAA). The CbC MCAA was developed jointly by the OECD and the Council of Europe in 1988 and amended by Protocol in 2010. The aim of this is to set forth rules and procedures as may be necessary for competent authorities of jurisdictions implementing BEPS Action 13 to automatically exchange CbC Reports prepared by the reporting entity of an MNE Group.
The CbC reporting requirements apply in Kenya from 2022 for MNE groups with gross turnover of KES 95 billion and above.
