{"id":140362,"date":"2024-10-23T21:30:42","date_gmt":"2024-10-23T18:30:42","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140362"},"modified":"2024-10-23T17:13:58","modified_gmt":"2024-10-23T14:13:58","slug":"kenya-revenue-authority-launches-new-crypto-tax-initiative","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/kenya-revenue-authority-launches-new-crypto-tax-initiative\/","title":{"rendered":"Kenya Revenue Authority Launches New Crypto Tax Initiative"},"content":{"rendered":"

This initiative<\/a> <\/strong>aims to expand Kenya\u2019s tax base, leveraging the cryptocurrency sector, which recorded approximately $18.6 billion in transactions in 2022.<\/p>\n

Starting September 2023, a 3% tax on crypto earnings has been implemented under the Finance Act of 2023, applying to all digital assets, including NFTs. While some exchanges are complying, specifics on tax remittance are still being negotiated.<\/p>\n

The KRA is working to establish procedures for filing and remitting these taxes, with penalties for non-compliance, including a 5% penalty and 1% monthly interest on unpaid taxes.<\/p>\n