There is a new tax bid in Kenya.
Thursday, May 11, 2023|
The East African country plans to charge a 3% tax on the transfer or exchange value of digital assets, while content creators will pay 15% on online earnings up. If the proposals in the finance bill are approved, the taxes will take effect in the coming budget year, which begins July 1. The tax authority defines digital assets as anything of value that is not tangible and cryptocurrencies, token code, number held in digital form and generated through cryptographic means.
The government has made it clear that it can't offer any protection in the event that an exchange goes bust..