• Latest
  • All
  • How To
Digital Assets tax, bitcoin

Digital Assets Tax: Kenya Govt on Verge of Embracing Bitcoin

May 16, 2023
Top 5 Platforms to Sell Bitcoin for Cash Without Stress

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

June 29, 2025
Subscription Nuisance: Gmail's New Tool Arrives in Kenya

Declutter! Gmail Feature to Manage Influx of Subscriptions Arrives in Kenya

June 28, 2025
Togo Cracks Down on Social Media as Protests Demand Leader's Resignation

Togo Shuts Down Social Media Access

June 29, 2025
Windows Blue Screen of Death

Microsoft Is Retiring the Iconic Blue Screen of Death After Nearly 40 Years

June 27, 2025
DHgate Tablet Cases deals
xiaomi_ai_glasses

Xiaomi Enters Smart Glasses Market with Its First AI-Powered Pair

June 27, 2025
Google Ask Photos

Google Relaunches Ask Photos with Faster, Smarter AI Search

June 27, 2025
Hashtags on X

Musk Drops Hashtags From Paid Posts on X

June 27, 2025
YouTube

YouTube Creators Need to Be 16 or Older to Live Stream Alone

June 27, 2025
How to Install a VPN and the Best Options in Kenya

How to Install a VPN and the Best Options in Kenya

June 27, 2025
Internet router with fiber connection

Competition Authority Cracks Down on Kenyan Landlords Blocking Internet Providers

June 27, 2025
Iran cyberattacks

Cyber Attacks Soar After US Airstrikes on Iran Sites

June 27, 2025
Communications Authority ranked by ITU as best in Africa ICT regulations

Media Blackout: Communications Authority Orders Halt to Live Protest Coverage

June 25, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Digital Assets Tax: Kenya Govt on Verge of Embracing Bitcoin

Sakwa Kombo by Sakwa Kombo
May 16, 2023
in News
Reading Time: 2 mins read
261
0
Digital Assets tax, bitcoin

The draft Finance Bill 2023, is currently the discussion of parliament, and members of the public have been invited to share submissions.  The digital assets tax stands out, as the government seeks to amend various laws with the goal to increase revenues collected.

Bitcoin and Non-Fungible Tokens (NFTs) are now defined as digital assets in the proposed bill. This is the first time the Government of Kenya (GOK) has shown its hand in the taxation of cryptocurrency.

The Bill has proposed to introduce a digital assets tax, a 3% levy on the transfer charges applied during the exchange of the assets which cover cryptocurrencies, digital currencies, and non-fungible tokens (NFTs).

Moreover, the tax will be due even when the exchange is via a barter system.

Digital Assets Regulation

This appears to be the first step by the government of Kenya to regulate this industry. As of now, there has been no regulatory framework to offer guidelines for the sector.

Based on a number of studies, it is estimated that about 4 million Kenyans hold cryptocurrencies.

This is a significant number and it explains why cash-strapped GOK has introduced the tax.

Currently, it remains unclear what infrastructure will be used to collect this tax.

As of now, the law does not require digital asset owners or exchanges to be registered within Kenya.

If a Kenyan tax domicile conducted a transaction that was concluded outside the country, the Kenya Revenue Authority (KRA) would have no oversight over the transaction.

Tags: BitcoinKenya Revenue Authority
SendShare146Tweet92
Sakwa Kombo

Sakwa Kombo

My Bio is in my written articles.

Related Posts

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

June 29, 2025
Exclusive Trump Dinner Offer Ignites $Trump Coin Price Rally

Trump Coin Price Surges After Promise of Dinner With the President

April 24, 2025
kra erits launch

KRA Launches eRITS to Improve Rental Income Tax Compliance

April 10, 2025
Ebee Mobility Kenya

Ebee Mobility Loses Tax Battle Over E-Bike Imports in Kenya

April 1, 2025
VAT Auto-Population

KRA Breaks VAT Collection Record in January

February 19, 2025
Investigators Probe Possible Insider Job in KRA System Outage

Investigators Probe Possible Insider Job in KRA System Outage

February 5, 2025

Latest

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

June 29, 2025
Subscription Nuisance: Gmail's New Tool Arrives in Kenya

Declutter! Gmail Feature to Manage Influx of Subscriptions Arrives in Kenya

June 28, 2025
Togo Cracks Down on Social Media as Protests Demand Leader's Resignation

Togo Shuts Down Social Media Access

June 29, 2025
Windows Blue Screen of Death

Microsoft Is Retiring the Iconic Blue Screen of Death After Nearly 40 Years

June 27, 2025
xiaomi_ai_glasses

Xiaomi Enters Smart Glasses Market with Its First AI-Powered Pair

June 27, 2025
Google Ask Photos

Google Relaunches Ask Photos with Faster, Smarter AI Search

June 27, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Top 5 Platforms to Sell Bitcoin for Cash Without Stress

June 29, 2025

Declutter! Gmail Feature to Manage Influx of Subscriptions Arrives in Kenya

June 28, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

Musk Drops Hashtags From Paid Posts on X

YouTube Creators Need to Be 16 or Older to Live Stream Alone

How to Install a VPN and the Best Options in Kenya

Competition Authority Cracks Down on Kenyan Landlords Blocking Internet Providers

Cyber Attacks Soar After US Airstrikes on Iran Sites

Media Blackout: Communications Authority Orders Halt to Live Protest Coverage

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.