Crypto exchanges spared from taxes as Kenya court nullifies 2023 Finance Bill
- Crypto exchanges in Kenya no longer have to pay the Digital Asset Tax (DAT) introduced in the Finance Act 2023.
- The Kenyan court of appeal declared the tax unconstitutional.
- None of the local cryptocurrency exchange platforms had remitted the taxes before the ruling.
The ruling declaring the Digital Asset Tax (DAT) unconstitutional is a positive development for crypto exchanges in Kenya. However, it highlights the need for a more suitable tax structure based on transaction gains or income. This decision may encourage further discussions on how to regulate and tax the digital asset market in the country.
