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Kenya To Tax Crypto Influencers, Promoters In New Tax Policy.

By Ekenedilichukwu May6,2023 #crypto #Kenya
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Kenya plans to charge a 3% tax on the transfer or exchange value of digital assets, while content creators will pay 15% on online earnings up from 5% withholding income tax, the new bill imposes a tax on earnings made by a content creator sponsored by a brand to make content or do promotions, and income from affiliate marketing.

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It defines content creators as those offering “entertainment, social, literal, artistic, educational or any other material electronically,” through websites, social media platforms like Facebook, Twitter or Instagram, in partnership with brands or retailers.

Earnings made by offering “subscription services where the audience pays a periodic fee to access the content and support the content creator, or merchandise sales where physical goods and services are sold featuring a logo, brand or catchphrase to the audience of the content creator, eBooks, courses, or software,” will also be taxed.

Also Read: Kenya Set To Tax Cryptocurrency Exchanges.

Also not spared is income from “membership programs for exclusive content including early access, licensing the content including photographs, music or other businesses or individuals for use in the user’s own projects; or crowdfunding for raising funds for specific goals for a content creator or another person.”

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