"Treasury Cabinet Secretary John Mbadi has submitted Kenya's Finance Bill 2026 to Parliament, introducing mandatory annual reporting requirements for virtual asset service providers alongside the reintroduction of a 20% withholding tax on gambling winnings, closing both lanes of the standard crypto-offshore migration path for affected players in a single piece of legislation."
"Under proposed amendments to the Tax Procedures Act, VASPs facilitating exchange transactions, providing trading platforms on behalf of customers, or acting as counterparties or intermediaries would be required to file annual information returns with the Kenya Revenue Authority (KRA). A separate provision authorizes Kenya to enter international agreements for the automatic exchange of virtual asset tax information with partner jurisdictions, paving the way for cro"
"The bill entered its public participation phase on Monday, May 11, when the National Assembly formally invited written and oral submissions on the proposed amendments before review by the Departmental Committee on Finance and National Planning. The bill's provisions on mandatory annual reporting requirements for virtual asset service providers (VASPs) operating in Kenya, and a restoration of a previous 20% withholding tax on gambling winnings are of key interest to cryptocurrency and iGaming sector participants."
"The bill reintroduces 20% withholding tax on gambling winnings, reversing a previous removal. Kenya's Treasury Cabinet Secretary John Mbadi tabled the Finance Bill 2026 in Parliament on Friday, April 30, proposing wide-ranging amendments to the country's tax framework."
Treasury Cabinet Secretary John Mbadi submitted Kenya’s Finance Bill 2026 to Parliament, targeting KSh 120 billion. The bill proposes amendments to the Tax Procedures Act requiring virtual asset service providers to file annual information returns with the Kenya Revenue Authority. The reporting obligation applies to entities facilitating exchange transactions, providing trading platforms for customers, or acting as counterparties or intermediaries. The bill also authorizes Kenya to enter international agreements for the automatic exchange of virtual asset tax information with partner jurisdictions. In addition, the bill reintroduces a 20% withholding tax on gambling winnings, reversing a prior removal. These measures are intended to affect both cryptocurrency and iGaming participants.
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