KRA plans to use a new revenue system linked with cryptocurrency exchanges to track transactions.

The Kenya Revenue Authority (KRA) has been enhancing its efforts to track and tax various forms of digital transactions, including those involving cryptocurrency. With the increasing popularity of cryptocurrencies like Bitcoin and Ethereum, the KRA plans to integrate a new revenue system capable of tracking transactions linked with cryptocurrency exchanges. This system would allow KRA to monitor and possibly tax income generated from crypto trading, investments, and other related activities.

Cryptocurrency transactions have traditionally been harder to track due to their decentralized nature, but with growing global cooperation and the use of advanced technology, tax authorities are finding ways to bridge this gap. The move aligns with Kenya’s wider efforts to expand its tax base, especially in the digital economy.

If you’re involved in cryptocurrency transactions or planning to do so, it would be crucial to stay updated on KRA’s developments to ensure compliance with future regulations.

  • Waren.com

    Africa Gossip Brings You Information Across The Globe.

    Related Posts

    BUDGET INCREASES AMIDST AUSTERITY.

    Despite the Kenyan government’s emphasis on austerity measures, recent budgetary allocations indicate significant increases in funding for the highest executive offices. For the financial year ending June 2025, the combined…

    Sudan Condemns Kenya Over Hosting of RSF Leaders, Calls it a “Hostile Act”.

    The Sudanese Ministry of Foreign Affairs has strongly condemned the Kenyan government for hosting an event where a political agreement was signed by the Rapid Support Forces (RSF), branding the…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    BUDGET INCREASES AMIDST AUSTERITY.

    BUDGET INCREASES AMIDST AUSTERITY.

    Sudan Condemns Kenya Over Hosting of RSF Leaders, Calls it a “Hostile Act”.

    Sudan Condemns Kenya Over Hosting of RSF Leaders, Calls it a “Hostile Act”.

    HR GROUPS DEMANDS KIZZA BESIGYE RELEASE.

    HR GROUPS DEMANDS KIZZA BESIGYE RELEASE.

    Kenyans Celebrate Raila’s AUC Loss, Cite Betrayal of Youth.

    Kenyans Celebrate Raila’s AUC Loss, Cite Betrayal of Youth.

    THE CURRENT SITUATION IN DRC CONGO.

    THE CURRENT SITUATION IN DRC CONGO.

    KENYANS REACTS TO RAILA’S AUC LOSS.

    KENYANS REACTS TO RAILA’S AUC LOSS.