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Taxes threaten to derail remittances from Kenya’s top sources in New Year
Saudi Arabia, the leading source of Kenya’s remittances in the Middle East, has introduced a value-added tax on services, requiring money transfer platforms to charge and remit tax on transaction costs, raising the cost of sending money.
From the United States to Saudi Arabia, new taxes are threatening to derail diaspora remittances to Kenya in 2026, unsettling an increasingly important source of foreign exchange.
The United States, Kenya’s top source of remittances, has introduced a 1 percent excise tax on money sent abroad, effectively raising the cost of sending funds back home from January 1.
