Kenya collects $78 million in digital currency taxes

Quick Summary:

The Kenya Revenue Authority is working with the central to initiate more effective tax measures as it targets $465 million in taxes from digital asset traders in the country.

The post Kenya collects $78 million in digital currency taxes appeared first on CoinGeek.

CBK and CMA, the earnings from the sector are legally taxable.“The lack of a robust system to collect taxes on cryptocurrency transactions has resulted in significant loss of revenue for the government,” KRA lamented last month.

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Article Details

Author / Journalist: Steve Kaaru

Category: Crypto

Markets: CanadaChinaKenyaSouth AfricaUganda

Topics: Africa Tax Finance Regulation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 10:00:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 857 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 23569306

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