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KRA poised to cash in as investors reap record crypto gains
In the financial year ending June 2025, KRA eyes a six-fold increase in the collections from the crypto industry to at least Sh60 billion, raising tax revenue by about 2.4 percent.
The Kenya Revenue Authority (KRA) is poised to tap the record gains reported in the global market this year, after revamping efforts to tax the traditionally hard-to-tax industry.
Cryptocurrencies – virtual forms of money not issued by a central monetary authority and are traded online – have recorded a historic surge in value this year, fuelled by Donald Trump’s victory in the recent US election.
