BitKE caught up with Nickson Omondi, Manager at the Digital Economy Tax Office at the Kenya Revenue Authority (KRA) to talk about the recent developments in crypto and digital assets taxation in Kenya.
According to Omondi, a lack of regulation for digital assets in Kenya does not in any way absolve virtual asset service providers (VASPs) and crypto holders of their tax obligations.
CRYPTO TAXATION IN KENYA 🇰🇪 |
“Even if an activity is illegal, tax is not illegal.” – Nickson Omondi, Manager, Digital Economy Tax Office, @KRACare https://t.co/zPgAoJydz3 @KRACorporate pic.twitter.com/ONUmIdLvoC
— BitKE (@BitcoinKE) October 15, 2024
Here are the talking points:
- The current digital tax as it pertains to crypto transactions
- How digital assets service providers should approach the digital service tax and other relevant taxes
- How digital assets holders should look at taxation and how to remit
- What changes have been implemented to the digital service tax
- How KRA intends to enforce crypto taxation
- The 2024 Finance Bill and how it relates to the digital service tax
- How KRA is involved in the upcoming crypto regulation as regards taxation
Watch the full interview below:
Follow us on X for latest posts and updates
Join and interact with our Telegram community
______________________________________
