A recently submitted measure suggests that Kenya’s parliament put a 3% tax on cryptocurrencies and nonfungible token transfers as well as a 15% tax on internet material that is commercialized.
The Finance Bill 2023, which was presented to the Kenyan parliament on May 4, would implement a tax on “income derived from the transfer or exchange of digital assets,” and it also contains specific language for NFTs.
The National Assembly will go through five rounds of readings, committee hearings, and reports on the measure; if it passes, the president will give his or her final approval before it becomes law.