Tanzania plans to amend the Income Tax Act to tax cryptocurrency transactions. The proposal includes a 3% withholding tax on income from digital asset transactions. Owners of digital platforms or facilitators of digital asset transfers will act as withholding payers. Foreign nationals operating such platforms must be registered under Tanzania's simplified tax regime.
The government is expected to receive an additional $178,600 (465 million shillings). Finance Minister Mwigulu Lameck Nchemba Madelu revealed this tax amendment plan in a speech to the National Assembly on June 13, 2024.
Tanzania plans to amend the Income Tax Law to tax cryptocurrency transactions
2024-06-18 02:56:06
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