The Kenya Revenue Authority (KRA) obtained $77.5 million in crypto tax for 2023-2024.
KRA Chairman acknowledged the Kenyan crypto market’s first contribution to the national tax basket.
The authority plans to collect a whopping $465 million in taxes from the crypto sector.
At Kenya’s Taxpayers’ Day celebration on November 1, the government revealed that the country collected $77.5 million in crypto tax over the last year. The Kenya Revenue Authority (KRA) obtained KES 10 billion from 384 crypto traders in the fiscal year 2023-2024.
KRA Chairman Anthony Mwaura highlighted the Kenyan crypto market’s first-ever contribution to national tax revenue. At a gathering at State House, Nairobi, Mwaura said the KRA plans to collect $465 million in taxes from the crypto sector alone. Over the next five years, the authority aims to accumulate $15.88 billion in tax revenue, with the crypto sector expected to be a key contributor.
Mwaura emphasized the need for collaboration to find ways to effectively tax cryptocurrency activities. He explained that many individuals involved in cryptocurrencies are willing to pay taxes, but the KRA currently lacks the means to …
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