Kenya Proposes Tax System Integrated with Crypto Exchange Data for Real-Time Monitoring of Crypto Transactions
On October 18, the Kenya Revenue Authority (KRA) proposed a tax system integrated with cryptocurrency trading platforms to enable real-time monitoring of transactions. Under the system, the KRA would capture key information about each transaction, such as the time and value of the transaction.
The tax department said that the current system is unable to track cryptocurrency transactions, leading to a significant loss of tax revenue. (Bitcoin.com)
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