The agreement was signed by the UAE's Obaid Humaid Al-Tayer, Minister of State for Financial Affairs and Kenyan Deputy Prime Minister & Minister of Finance Uhuru Kenyatta.

All of the UAE's national carriers including Emirates Airline, Etihad Airways, Air Arabia and RAK Airways will be exempted from taxes in Kenya, according to the agreement.

Students, sovereign funds, staff members of airlines, income and capital in both the public and private sectors are also exempted from all taxes.

The tax on private sector dividends were reduced by Kenya from 20% to 5%.

The new agreement also provides for the exchange of data, avoidance of discrimination on tax, amicable resolution of conflicts.

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