Global Forum Secretariat supports Kenya’s implementation of the AEOI standard

 

27/03/2024 - The Global Forum Secretariat and His Majesty's Revenue & Customs (HMRC) facilitated a workshop on the automatic exchange of financial account information in tax matters (AEOI) for the Kenyan financial industry and governmental institutions on 21-22 March 2024.

The event was hosted by Kenya Revenue Authority and attended by over 130 participants, including from the National Treasury and Planning, the Central Bank, the Bankers Association, the Institute of Certified Public Accountants, the Capital Markets Authority, the Nairobi Securities Exchange, the Insurance Regulatory Authority and the Financial Reporting Centre.

The Global Forum Secretariat, HMRC and Kenyan officials presented the key requirements of the AEOI standard, and the two-day event helped participants better understand the due diligence and reporting obligations of Financial Institutions for implementing the Common Reporting Standard, in preparation for Kenya’s first automatic exchanges in 2024.

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

The Global Forum capacity-building programme is supported by the following development partners:

For more information, please contact gftaxcooperation@oecd.org.