CoinVoice recently learned that according to Bitcoin.com, the Kenya Revenue Authority (KRA) proposed to establish a tax system integrated with cryptocurrency trading platforms to achieve real-time monitoring of transactions. Under this system, KRA will capture key information of each transaction, such as transaction time and value.

The tax department said that the current system cannot track cryptocurrency transactions, resulting in a large amount of tax loss. The tax department also cited Section 3 of Kenya (Income Tax Act), which allows cryptocurrency income to be taxed. A Kenyan tax official said: "Our goal is to establish a strong and efficient system to effectively collect cryptocurrency taxes."

In addition to the real-time tax system, Kenya is also considering using artificial intelligence (AI) and machine learning technologies to detect tax evasion. These technologies are expected to optimize the Kenya Revenue Authority's tax collection and administration processes and improve transparency. [Original link]