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Finance Bill: Digital assets tax on crypto halved to 1.5pc
The digital assets tax was first introduced through the Finance Act of 2023, and was set at three percent of the gross fair market value of cryptocurrency transactions.
The National Treasury has proposed halving the tax levied on digital asset transactions to 1.5 percent from the current three percent, a change that could reduce the cost of transferring assets such as cryptocurrencies and non-fungible tokens (NFTs) for users.
The move to lower the taxes could also serve to quicken the adoption of digital assets in the country, growing the number of Kenya’s cryptocurrency users from the current estimate of 733,300.
