Kenya is proposing new taxes aimed at the digital economy to increase domestic revenues and reduce its fiscal deficit. The country intends to implement a 3% tax on digital asset transfer or exchange value, while content creators will pay 15% on online earnings, up from the current withholding income tax of 5%. The taxes will come into effect in the next budget year starting July 1 if the finance bill is approved. Cryptocurrency exchanges are expected to withhold tax deductions and forward them to the tax authority within 24 hours. Content creators are defined as individuals providing entertainment, social, educational or other material electronically through social media or websites in collaboration with brands or retailers.

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