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Kenyan Cryptocurrency Companies on Notice as Digital Tax Law Takes Effect


Kenyan Cryptocurrency Companies on Notice as Digital Tax Law Takes Effect
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Kenya’s Digital Service Tax, or DST, came to fruition at the beginning of 2021. The DST is part of the nation’s 2020 revamped Finance Act that concentrated on the digital services area among other segments. In line with the stipulations of the new tax regime, e-market trade including crypto payments now face a 1.5% levy.
A Kenyan country representative at non-custodial P2P cryptocurrency exchange Bitzlato, Reginald Alango, informed Cointelegraph that the newly implemented tax policy prescribes a 1.5% tax on the total transaction value of every cryptocurrency trade.
Speaking on the possible impact of the policy on cryptocurrency adoption in the country, Alango noted: ....

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